Understanding economic mobility — the ups and downs people experience in their employment, income, and financial situation — is important for understanding the opportunities and challenges faced by people and communities, as well as the state of the economy. However, measuring economic mobility is difficult because many data sets do not provide adequate information on changes in circumstances over time. To address this gap, the Philadelphia Fed recently launched its Survey of Economic Mobility, which generates new insights into the experiences and expectations of Third District residents regarding work, school, and economic mobility. This article describes the survey's design and the results from a pilot of the survey. Initial results suggest that the employment of lower-income individuals is meaningfully held back by their greater incidence of negative changes in health and access to transportation.
This article appeared in the Third Quarter 2025 issue of Economic Insights. Download and read the full issue.
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