Income Mobility

Income mobility refers to the ability of individuals or families to move up or down the income ladder over time. This means that a person born into a low-income family can achieve a higher income in adulthood, or conversely, someone from a high-income background might earn less later in life. Factors influencing income mobility include education, job opportunities, economic conditions, and social networks. High income mobility indicates a more equitable society where talent and effort can lead to economic advancement, while low mobility may suggest systemic barriers that hinder individuals from improving their financial situation.