If you want to live the American dream, living in New York, New Jersey, or Maryland may be a good decision. According to Pew Center, these states are considered as the most economically mobile. Other states suitable for a stable economic living also include Connecticut, Massachusetts, Pennsylvania, Michigan, and Utah. States located at the South like Louisiana, Oklahoma, South Carolina, Alabama, Florida, Kentucky, Mississippi, North Carolina, and Texas are considered as the most unstable ones.
The center’s study also showed that one-third of Americans who relocated from the state they were born will most likely achieve more stable financial standing. The study’s author, Erin Currier, said it is important to consider your residence for economic mobility prospects. The study, however, did not indicate the performance of the states or why they ended up in such positions. Past research includes higher education, savings, assets, and neighborhood prosperity as reasons for economic advancement.
U.S. Census and Social Security data of 65, 000 individuals from all 50 states over a 10-year period was used for the research. The study was based on three measures of economic mobility: individuals’ earnings growth, individuals’ earnings growth in relation to the state’s population, and statewide economic mobility on national levels.
Currier hopes this study will be used for promoting the American dream, giving policymakers another tool to determine opportunities in the country.