View Research by Author - Robert I. Lerman

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Citation URL: http://www.urban.org/RobertILerman

Many commentators have worried about the low savings rates and high debt levels of American families. Does this picture of unbridled consumption and low asset accumulation fit the American family? Did declines in 2008-2009 house prices, stocks, and bonds reinforce stagnating wealth or offset previous growth in wealth? Using data from the 1989, 1998, and 2007 Surveys of Consumer Finances (SCF) to replicate family experiences over the life cycle by following age cohorts, this fact sheet shows that from 1989 to 2007 American families were accumulating wealth at a healthy rate as individuals and families moved through their life cycle.

The U.S. unemployment rate is above 10 percent, with nearly 16 million Americans out of work, and President Obama is calling for a December summit to consider job-creation ideas. Two labor economists explain why it's time for the federal government to directly create more publicly funded jobs.

If you think apprenticeship sounds like a relic from centuries past — good enough for Ben Franklin but a no-go in a 21st-century economy — think again, Institute Fellow Robert Lerman explains in a commentary for thestate.com

Battered housing prices are central to today's financial crisis. So far, the federal government has directed vast sums to homeowners and the institutions that financed them in ways that are not well-targeted. Meanwhile, the country is missing a good opportunity to stimulate demand for owner-occupied housing in the short run, while making progress in reducing shortfalls in coverage for housing assistance programs. This paper argues that a major expansion of Homeowner Voucher Program provides such an opportunity through an equitable and efficient policy alternative. Published in The Economists' Voice: Vol. 6 : Iss. 6, Article 2.

A college education strongly affects whether or not children from poor or low-income families move up the economic ladder when they become adults. But they are less likely to enroll in either two- or four-year colleges, and less likely to complete a degree when they do, relative to those from middle- and upper-income families — even after accounting for differences in academic preparation. We review current federal efforts to help low-income students attend college, and recommend new policies that would improve their academic preparation, provide more effective guidance on selecting and paying for college, and improve retention and graduation rates.

This report analyzes a survey of a nationally representative sample of sponsors of registered apprenticeship programs. Commissioned by the Employment and Training Administration of the U.S. Department of Labor, the survey includes questions about how sponsors (mainly employers) view their registered apprenticeship programs. The study analyzes these survey responses on the value, benefits, and drawbacks of registered apprenticeship, its integration with the workforce investment systems, apprentice completion and reasons for non-completion, and suggestions for possible improvement. In general, sponsors report highly positive attitudes about registered apprenticeship as a system for training their workforce.

If Congress and the Obama administration want to encourage housing demand without breaking the government bank, says Institute Fellow Robert Lerman, they should allow low-income recipients of rent subsidies to buy homes and use their subsidies to help pay the monthly mortgage, tax and insurance costs.

The increasing recognition of the importance of marriage for the social and economic well-being of children has led to demonstrations aimed at strengthening and stimulating healthy marriages. The next step is to ensure that factors closely linked with healthy marriages are addressed as well. This paper brings together research findings and policy ideas about the interactions between marriage, employment, and family functioning. It presents a framework and proposes several demonstrations aimed at improving employment and family outcomes for disadvantaged populations. The appendix reviews an extensive body of research on specific linkages between marriage, employment, and family functioning.

This paper, written for the Workforce Alliance in Washington, D.C., analyzes data on recent employment and wage trends, as well as projections from the Bureau of Labor Statistics, to analyze the likely future demand for workers in "middle-skill" jobs –- i.e., those requiring more than secondary school but less than a bachelor's degree. Contrary to recent assertions that demand for middle-skill jobs will shrink dramatically (creating an "hourglass" or "dumbbell" labor market), we find that demand for such jobs will remain quite robust. The growth in supply of workers with these skills will also likely shrink as baby boomers retire and are replaced by immigrants. Thus, education and training programs that help less-educated workers gain these skills remain a worthwhile investment.

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Using data from the Federal Reserve Board's Surveys of Consumer Finances (SCFs), we follow one segment of a cohort over its life cycle—married couples as the husband ages from 36–44 in 1989 to 51–59 in 2004. We find that middle-income and lower-middle-income married-couple households experienced modest income growth but rapid growth in net worth. Overall, the evidence documents significant gains in income and wealth as married couples aged from their late 30s to their 50s.

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