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This data is pretty much what you're asking about[1]. In summary, people in the top income quintile have a 70% chance of staying there. In other words, less th
by dahfizz 5y ago
This data is pretty much what you're asking about[1].
In summary, people in the top income quintile have a 70% chance of staying there. In other words, less than one third of the top income bracket are "new" people every decade.
40% of people also escape the bottom income quintile every decade.
Overall, the diagonal on the chart shows that you are pretty likely to stay in the same quintile over time, but there is still lots of mobility.
[1] https://www.clevelandfed.org/newsroom-and-events/publications/economic-commentary/2016-economic-commentaries/ec-201606-income-inequality-and-mobility.aspx https://www.clevelandfed.org/newsroom-and-events/publication...
- prennert 5y agoThat was exactly what I was looking for. Thanks a lot!