Memo to Would-Be Members of the 1%: Move to the Northeast or Mid-Atlantic
Reaching for the American dream? Your best chances are probably in New York, New Jersey or Maryland.
Those states are best at helping Americans move up the income ladder, both in absolute terms and relative to their peers, according to a groundbreaking new study from the Economic Mobility Project at the Pew Center on the States.
“It was beyond the scope of the study to look at why states performed the way they did,” Ms. Currier said. “What I can say is that our previous research has found some particular drivers of economic mobility at the individual level, including education, savings and assets, and neighborhood poverty during childhood.”
“We thought there might be some sort of a brain drain effect, that maybe the best and the brightest move out,” Ms. Currier said. “Our sample — and other data — showed that in general people are unlikely to move out of birth state. As a result, the aggregate level of moving out or moving in or staying put didn’t actually affect any state as whole.”
Read the full article at nytimes.com.