Get a job and keep it! High school employment and adult wealth accumulation |
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Authors: | Matthew A. Painter II |
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Affiliation: | The Ohio State University, 238 Townshend Hall, 1885 Neil Avenue, Columbus, OH 43210, United States |
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Abstract: | Wealth inequality receives substantial scholarly attention, but mounting evidence suggests that childhood and adolescent traits and experiences contribute to financial disparities in the United States. This study examines the relationship between adolescent labor force participation and adult wealth accumulation. I argue that employed high school students gain practical life skills, abilities, and knowledge from work experience and business exposure that shape investment decisions and affect overall net worth. I use the National Longitudinal Survey of Youth, 1979 cohort, to empirically explore this idea. This study extends the wealth literature by identifying adolescent employment as an important mechanism that improves adult net worth and financial well-being. |
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Keywords: | Adolescence High school employment Home ownership Human capital Wealth accumulation |
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