Downward Mobility

July 23, 1993 • Volume 3, Issue 27
What happened to the American Dream?
By Kenneth Jost

Introduction

The United States was built on a dream of ever-increasing prosperity, but that dream is being supplanted by the specter of downward mobility. After two decades of sluggish economic growth, hundreds of thousands of Americans have found themselves sliding down the economic ladder. Plant closings have wiped out blue-collar jobs. Corporate “downsizing” has thrown white-collar workers into the job market. And employers are making growing use of “contingent workers” who get lower pay and benefits than full-time employees. Some observers say the generation entering the work force today may never equal the standard of living their parents achieved. The financial impact of downward mobility can be severe, but the psychological effects can be even more devastating. And those scars may last long after the U.S. economy gets back on track.

ISSUE TRACKER for Related Reports
Upward Mobility
Jun. 26, 2015  Millennial Generation
Dec. 03, 2010  Income Inequality
Apr. 29, 2005  Upward Mobility
Oct. 29, 1993  The Glass Ceiling
Jul. 23, 1993  Downward Mobility
Mar. 21, 1955  Job Problems in Middle Age
BROWSE RELATED TOPICS:
Economic Crises
Unemployment and Employment Programs