Brief Risk and Recovery: Documenting the Changing Risks to Family Incomes
Gregory Acs, Pamela J. Loprest, Austin Nichols
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Using the 1996, 2001, and 2004 panels of the Survey of Income and Program Participation, this brief examines the likelihood that nonelderly individuals in families with children experience substantial drops in family income and recoveries from such drops. Over 13 percent of families see their incomes fall by half at some point over the course of a year with the lowest- and highest-income families the most likely to experience a substantial income loss. Further, only two in five individuals recover to at least 100 percent of their pre-drop income in the year after the drop.
Research Areas Economic mobility and inequality Wealth and financial well-being Families
Tags Economic well-being Employment and income data Income and wealth distribution Families with low incomes