Inequality narrowed as poor Black kids improved in income, while poor white kids earned less. Poor white kids born in 1992 earned $1,530 less at 27 than those born in 1978.
The chance of Black and white kids from the lowest-earning quintile reaching the middle class has converged. White family inequality is rising, contrasting with the improved situation among Black families.
The study emphasizes the malleability of opportunity in a short time frame. Chetty notes that persistent racial gaps exist due to unchanged rates of mobility. However, a catch-up phenomenon for Black families could occur within a few generations.
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