Lifetime Earnings in the United States over Six Decadest

Between the 1957 and 1983 labor market entry cohorts, median life-time earnings declined by 10-19 percent for men and increased by 22-33 percent for women, albeit relative to very low median life-time earnings for the early cohorts. The difference between newer and older cohorts comes from differences in median earnings at the time of labor market entry. Inequality in lifetime earnings has increased significantly within each gender group, but the closing life-time gender gap has kept overall lifetime inequality flat. The increase among men is largely attributable to subsequent cohorts entering the labor market with progressively higher levels of inequality. (JEL D15, J16, J31, J32)