Study: Less than a quarter of blacks earn more than their parents

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A study by the Economic Mobility Project found that Americans in the past 40 years have had a harder time moving up and down between income classes.  African-Americans have had a harder time obtaining more wealth than their parents. According to Pew Research, only 23 percent of blacks are currently earning more income than their parents did. The Washington Post reports:

The overwhelming majority of Americans still make more money than their parents, but upward mobility is elusive for many, particularly for African Americans and those without a college degree, according to a new study released Monday.

While 84 percent of Americans earn more than their parents, about a third moved up between income classes during the past four decades, according to a new study from the Economic Mobility Project at the nonpartisan Pew Charitable Trusts. Sixteen percent of all families surveyed dropped from the income levels of their parents, and blacks were more likely to be downwardly mobile than whites.

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