Highlighting the intergenerational transmission of income dynamics, they conclude that workers from richer families and from households with stronger income growth also enjoy higher life-cycle income growth themselves. [19] Furthermore, Gonzalo Paz-Pardo will point out that younger households in the United States have generally faced greater inequality and volatility in the labour market than previous generations. [20] As a result, lower income households in particular ﬁnd it harder to acquire housing and accumulate wealth.
This skews the distribution of wealth further and could lower intergenerational mobility. Other studies have also suggested that the “American Dream” may have become more elusive over time. [21] Thus, the pandemic might exacerbate a tendency in the United States that may have already been under way previously.