Saturday, July 24, 2010

Teenagers are bad for your wallet

Everyone knows teenagers are expensive...they want to spend your money. But did you know that they can actually decrease your income as well? Using data from the 2003 National Survey of College Graduates (from the U.S. Census Bureau), researchers have shown that having children ages 12 to 18 has a statistically significant correlation with earnings. Specifically, librarians earn 19.9% less per teenager. So if
you have 5 teenagers, you should just quit your job since you will only be earning 0.5% of your coworker's salary, which is surely below minimum wage. This study focused on librarians, but the trend may apply to other occupations as well.

Sweeper, D., & Smith, S. A. (2010). Assessing the impact of gender and race on earnings in the library science labor market. College and Research Libraries, 71, 171-183.

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