Does marriage matter? People have been asking this question for decades.
For Richer, For Poorer: How Family Structures Economic Success in America examined how family structure impacts the economic fortunes of American families. Dr. Brad Wilcox, senior fellow at the Institute for Family Studies and Robert Lerman, professor of economics at American University, conducted the research.
They concluded that marriage is key to productive adulthood, stable families and healthy communities.
Five significant findings emerged from this study about the relationships between family patterns and economic well-being in America:
The retreat from marriage is key to the changing economic fortunes of American family life. The median income of families with children would be approximately 44% higher if the United States enjoyed 1980-levels of married parenthood today.
Strong associations exist between growing up with both parents in an intact family and higher levels of education, work and income. Young men and women from intact families enjoy an annual “intact family premium.” The premium amounts to $6,500 and $4,700, respectively, over the incomes of their peers from single-parent families.
Men obtain a substantial “marriage premium” and women bear no marriage penalty to their individual incomes. Plus, both men and women enjoy substantially higher family incomes compared to peers with otherwise similar characteristics.
Growing up with both parents increases the odds of attaining higher education. Higher education leads to higher odds of marriage as an adult. Both the extra education and marriage result in higher income levels. Men and women from intact families who are currently married enjoy an annual “family premium” in their household income. The premium exceeds that of their single peers from in non-intact families by at least $42,000.
All populations benefit from growing up in an intact family and being married. It applies about as much to blacks, Hispanics and whites. The advantages also apply to less-educated men and women. Men with a high-school diploma or less enjoy a marriage premium of at least $17,000 compared to single peers.
Strong and stable families are economically vital. Consequently, Wilcox and Lerman contend that business and civic leaders and policymakers should strengthen and stabilize marriage and family life in the U.S. And since the poor and working class feel the impact of the nation's retreat from marriage most, Lerman and Wilcox believe the efforts should be focused on them.
The authors also recommend:
Public policy should “do no harm” when it comes to marriage. Policymakers should eliminate or reduce marriage penalties.
Civic institutions, private and public partners, businesses, state governments and public schools should launch a national "success sequence" campaign together. This would encourage young adults to sequence schooling, work, marriage and then parenthood. It would also stress the benefits of being born to married parents with a secure economic foundation.
Lerman and Wilcox contend that the nation's retreat from marriage is worrisome. It not only affects family inequality, but men’s declining labor-force participation and the vitality of the American dream.