The down slope

For the first time in a very long time American men in their thirties can expect to earn less in real terms than their fathers did. In 2004 the real income of thirty year old men was 12% less than in 1974 after adjusting for inflation. Family income for men in thirties is slightly up on that of thirty years ago but only because of the increasing number of wives and mothers in the work place.

It isn't likely to get much better either. For the second time today I feel lucky to be old!