Babaamaajimowinan (Telling of news in different places)

Income mobility is the American Dream. Most Minnesotans never achieve it.

There is a belief among Americans that with hard work, education and maybe a little luck, anyone can improve their lot in life. That even if you start on the bottom rung of the income ladder, it's possible to climb to the top.

But for most people, that's not true.

Though Americans as a whole have historically been able to count on doing better economically than their parents, for children born since 1980 out-earning the previous generation has been a coin toss.

New data the Federal Reserve Bank of Minneapolis compiled into the Income Distributions and Dynamics in America report shows income stagnation is widespread, and Minnesotans are among the Americans least likely to move out of their current bracket. Those who start at the bottom here tend to stay at the bottom, and those who start at the top tend to stay at the top.

https://www.startribune.com/minnesotans-least-likely-climb-income-ladder/600364589/

 

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