The following is a transcript from my radar from the June 7 edition of “Rising” on HillTV.
A study with big findings landed with little notice late last month. The University of Chicago’s Becker Friedman Institute for Research in Economics published “Lifetime Earnings in the United States over Six Decades.”
“[T]he majority of US men who entered the U.S. labor market since the late 1960s have seen little-to-no gains in lifetime earnings relative to earlier cohorts, despite the fact that the U.S. economy has grown significantly during the same period,” the authors concluded. “Accounting for rising employer-provided health and retirement benefits partly mitigates these findings but does not overturn them.”
“Much of this stagnation for men,” they noted, “can be traced to the conditions during the labor market entry of a cohort: Newer cohorts of men faced declining or stagnant median initial earnings relative to previous cohorts and did not experience faster earnings growth over their lifecycle to make