Lifetime Earnings in the United States over Six Decades
American Economic Journal: Applied Economics
vol. 14,
no. 4, October 2022
(pp. 446-79)
Abstract
Between the 1957 and 1983 labor market entry cohorts, median lifetime earnings declined by 10–19 percent for men and increased by 22–33 percent for women, albeit relative to very low median lifetime earnings for the early cohorts. The difference between newer and older cohorts comes from differences in median earnings at the time of labor market entry. Inequality in lifetime earnings has increased significantly within each gender group, but the closing lifetime gender gap has kept overall lifetime inequality flat. The increase among men is largely attributable to subsequent cohorts entering the labor market with progressively higher levels of inequality.Citation
Guvenen, Fatih, Greg Kaplan, Jae Song, and Justin Weidner. 2022. "Lifetime Earnings in the United States over Six Decades." American Economic Journal: Applied Economics, 14 (4): 446-79. DOI: 10.1257/app.20190489Additional Materials
JEL Classification
- D15 Intertemporal Household Choice; Life Cycle Models and Saving
- J16 Economics of Gender; Non-labor Discrimination
- J31 Wage Level and Structure; Wage Differentials
- J32 Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
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