More Evidence Marriage and Family are Good for the Economy
We have written before about research revealing how marriage contributes to household income. Studies from the Heritage Foundation have shown marriage is as effective at raising household income as adding a few years to a person’s education. In other words, being married with a college degree puts a person’s income in the same range as that of someone with, for example, some graduate school education or a Master’s degree. This week there is more emerging evidence that marriage is good for parents and children.
According to a new study by officials from the National Marriage Project, “Growing up with both parents (in an intact family) is strongly associated with more education, work, and income among today’s young men and women. Young men and women from intact families enjoy an annual ‘intact-family premium’ that amounts to $6,500 and $4,700, respectively, over the incomes of their peers from single-parent families.”
If those numbers hold true, that means a young adult who grew up in an intact family with a mother and father present will earn roughly $200,000 – $290,000 more over the course of his or her career than someone who grew up in a single-parent household.
There are plenty of other factors to consider. As other researchers have noted, children with a married mother and father do better in school; have fewer discipline problems and are less likely to get in trouble with the law; and are more likely to go on to college. However, one thing these positive outcomes all have in common is a married mother and father.
Last February, President Obama announced a new initiative “designed to determine what works to help young people stay on track to reach their full potential.”