Millennials in Nevada face long odds for earning more than their parents
By Matthew Crowley, Las Vegas Review-Journal
Christel Marie San Diego came to the United States from the Philippines four years ago with her own American Dream. After graduating from college and reading books like “Think and Grow Rich” and “The Power of Habit,” she plans to own a business — and perhaps outearn her parents.
A study issued last year suggests outearning her parents may be difficult, especially in Nevada. Researchers at Stanford and Harvard universities and UC Berkeley, found millennials’ odds of outearning their parents has shrunk by about half nationwide over 40 years, and has shrunk the most in Nevada among all states.
Overall, Nevada had a 49.7 percent drop in social mobility over the study period, leading the nation. Alaska (49.4 percent drop), Michigan (47.6 percent drop), Washington state (46.1 percent drop), Indiana (45.9 percent drop), Illinois (45.5 percent drop), Idaho (45.3 percent drop) and North Dakota (45.2 percent drop) followed.
Robert Fluegge, a study co-author, said the data don’t specifically explain Nevada’s result; he said the state followed the national trend.