There Was Alot Of Income Mobility From 2001-2007

See New Mpls. Federal Reserve Bank Study Shows Significant Earnings Mobility Between 2001-2007 from Mark Perry at Carpe Diem. It is a great post but here is a key finding: Percentage of households in each quintile that changed quintiles over the time period: 1st: 44% 2nd: 61% 3rd: 58% 4th: 55% 5th: 34% Where 1st is the highest earning quintile.