Oct 3, 2018

Young Americans expect to make more money than their parents

Data: Chetty, et al., 2016 "The Fading American Dream: Trends in Absolute Income Mobility Since 1940"; Chart: Andrew Witherspoon/Axios. Inflation adjusted to 2014 dollars.

Half of young Americans, aged 15-26, expect to be better off financially than their parents, and 60% of parents agree with them, according to a new AP-NORC poll.

Why it matters: Only half of 30-year-old Americans in 2014 made more than their parents. Compare that to 1970, when 92% of 30-year-olds made more than their parents, according to a report by economist Raj Chetty. If young Millennials and Gen-Zers today end up making more than their parents, it would be the reversal of a falling trend.

By the numbers:

  • 29% of young people expect to ultimately be in about the same financial situation as their parents, and a quarter of parents feel the same way.
  • 20% of young adults expect to be worse off financially than their parents.
  • 12% of parents surveyed also thought their young adult kids would be worse off financially.

The big picture: Young Americans are increasingly more educated, according to a study by Pew Research, and the average income for 25-34 year olds has generally risen in recent years for both men and women after falling or remaining stagnant during the recession, according to Census data.

Go deeper

Household income stagnates as home prices soar

Data: Census Bureau; Chart: Andrew Witherspoon/Axios

Despite a robust economy and low unemployment, household income hasn't changed much in the past 20 years.

Go deeperArrowDec 31, 2019

Fitness trackers are more popular with women than men

A Fitbit fitness tracker. Photo: Rich Fury/Getty Images for Fitbit

About one-in-five American adults use a smart watch or fitness tracker, with women more likely than men to use a fitness device, according to new research from Pew.

Why it matters: The category is still in its early days, and understanding who uses the products and who doesn't could help the industry improve its products and broaden their appeal.

Go deeperArrowJan 13, 2020

Americans are moving less

Data: Census 2019 Current Population Survey Annual Social and Economic Supplement; Chart: Danielle Alberti/Axios

Fewer than 10% of Americans moved to new places in the 2018-2019 year, the lowest rate since the Census Bureau began tracking domestic relocations in 1947.

Why it matters: Despite a strong economy, more people are feeling locked in place. Young adults, who have historically been the most mobile, are staying put these days thanks to housing and job limitations. So are aging adults who are reluctant to (or can't afford to) make a move.