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Climbing the economic ladder is harder in the US than in most European countries, report says
Is America the "land of opportunity"? Not so much.
A new report from the Organization for Economic Co-Operation and Development finds that social mobility between generations is dramatically lower in the U.S. than in many other developed countries.
So if you want your children to climb the socioeconomic ladder higher than you did, move to Canada.
The report finds the U.S. ranking well below Denmark, Australia, Norway, Finland, Canada, Sweden, Germany and Spain in terms of how freely citizens move up or down the social ladder. Only in Italy and Great Britain is the intensity of the relationship between individual and parental earnings even greater.