Pew Economic Mobility Project

Families & Community
10:00 am
Tue December 10, 2013

Outtakes: One mother teaches her kids the importance of savings

The Blackman Family formula: 10% giving, 40% savings, 50% spending
Credit user penywise / morgueFILE

The blogosphere has been abuzz the last week or so about What Poor People Do (Or Don't Do). The topic of savings often comes up in discussions about the poor, and with those conversations come lots of misconceptions.

I interviewed the Blackman family a couple weeks ago for a piece on climbing out of poverty. Tiffany Blackman has been trying to climb out of the poverty she inherited from her parents, grandparents and great grandparents. Together with her husband, Rodrico, and their four kids, they've managed to climb up one rung on the income ladder, thanks to lots of hard work, education and savings.

In our conversation, we talked about savings and kids. Specifically: Does she talk to her kids about how to save money? Her answer was an emphatic yes.

Here how she does it:


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11:44 am
Thu September 26, 2013

Which factors will help your kids climb the income ladder and which will hold them back?

Lead in text: 
We know that kids who grow up in low-income homes are less likely to have high incomes as adults. But which factors most help kids climb the economic ladder, and which hold them back? The Pew Economic Mobility Project put together a handy, interactive site where you can combine different factors such as race, marital status and education to determine which combinations give people the best odds of getting ahead. Are you a single black female? If you get a college degree, your chances of climbing the economic ladder are at 83 percent. Same person, no degree? You have only a 9 percent chance of moving up, according to Pew.
  • Source: Pewstates
  • | Via: Spotlight on Poverty and Opportunity, on Twitter
When it comes to economic mobility, which families are likely to fare better than their parents? We invite you to explore this interactive tool as it reveals the traits of families that experience upward mobility and, conversely, those that find themselves stuck in their positions on-or falling down-the economic ladder.
Families & Community
11:02 am
Thu April 4, 2013

The average unemployed white person has more household income than the average working black person

Credit Pew Economic Mobility Project

This chart comes from a report released yesterday by the Pew Economic Mobility Project. The report looked at the effects of unemployment on American families. Overall, the report says one third of families in America experienced some form of unemployment between 1999 - 2009. But minority families were far more likely to be affected. Forty-one percent of black families and 51 percent of Latino families experienced unemployment during the period, compared to 30 percent of whites. 

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Policy
6:00 am
Wed January 9, 2013

The link between savings and upward mobility

Monique Norton is saving money so she can buy a used car and rent an apartment.
Credit Jennifer Guerra / Michigan Radio

Be honest: How many of you made a New Year's resolution to save more money?

Saving money can be especially hard to do in a tough economy, so kudos to you. For families at the bottom of the economic ladder, saving money can make a real difference.

Erin Currier directs the Pew Economic Mobility Project. She says "when low income families can develop their own savings, their own assets, their children are significantly more likely to move up the income ladder."

Currier's team did a 2009 study called "A Penny Saved is Mobility Earned," and they found that savings and upward mobility are linked together, especially for families in the lowest income bracket.

Children of low-saving (i.e., below median), low-income parents are significantly less likely to be upwardly mobile than children of high-saving, low-income parents.

Seventy-one percent of children born to high-saving, low-income parents move up from the bottom income quartile over a generation, compared to only 50 percent of children of low-saving, low-income parents. 

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Research
11:00 am
Fri November 16, 2012

Great Recession impact biggest on families in poverty

Gerard Van der Leun flickr

A new report by the Pew Economic Mobility Project shows that while all communities were impacted by the Great Recession, families in high-poverty neighborhoods took the hardest hit.

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Research
11:54 am
Thu July 19, 2012

How an escalator explains "absolute" versus "relative" economic mobility in America

Here's a bit more information to help explain yesterday's story Five facts about achieving the American Dream. We've gotten some comments from listeners about how to interpret our five facts, and one of the biggest areas of confusion concerns the distinction between "absolute" and "relative" measures economic mobility. 

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