Climbing the Income Ladder in the U.S.

us climbing income ladderAccording to an article published by the New York Times it matters where you grow up in terms of upward income mobility in the United States.

The chance that a child raised in the bottom fifth (bottom 20%) will rise to the top fifth (top 20%) varies significantly within each state and across states as well. The odds are particularly bleak for the Southeast. In cities like Charlotte, Atlanta, Raleigh, to name a few, the chances of upward mobility are few, 4% or less. By contrast, the chances of upward mobility are the best in areas of the Midwest and West, 20% or higher. The odds of climbing the income ladder are good in cities like Boston, New York, Salt Lake City, Pittsburgh, and Seattle.

Source: The New York Times: In Climbing Income Ladder, Location Matters