Table 5.
Lower-class | Middle-class | Upper-class | ||||
---|---|---|---|---|---|---|
Pre-recession | Recession | Pre-recession | Recession | Pre-recession | Recession | |
| ||||||
b/se | b/se | b/se | b/se | b/se | b/se | |
Carry consumer debt balance | 0.034 (0.023) | 0.054** (0.024) | −0.008 (0.011) | −0.001 (0.014) | 0.005 (0.017) | 0.019 (0.019) |
Amount of balance | 0.003 (0.003) | −0.001 (0.002) | 0.004** (0.001) | 0.006*** (0.002) | 0.001 (0.002) | 0.005** (0.002) |
Parent | −0.028 (0.020) | 0.092*** (0.029) | −0.015 (0.013) | −0.009 (0.016) | −0.020 (0.023) | 0.035 (0.023) |
Married | −0.009 (0.017) | 0.015 (0.021) | −0.032*** (0.010) | −0.032*** (0.011) | −0.049*** (0.014) | −0.023 (0.016) |
Employed | −0.050*** (0.016) | −0.086*** (0.018) | −0.024* (0.013) | −0.058*** (0.018) | −0.046** (0.020) | −0.024 (0.033) |
Female | 0.197*** (0.023) | 0.202*** (0.031) | 0.191*** (0.013) | 0.176*** (0.018) | 0.195*** (0.020) | 0.161*** (0.026) |
White | 0.123*** (0.025) | 0.115*** (0.033) | 0.084*** (0.013) | 0.082*** (0.018) | 0.084*** (0.021) | 0.096*** (0.027) |
College graduate (4 year) | −0.064** (0.031) | 0.021 (0.042) | −0.053*** (0.015) | −0.012 (0.018) | −0.052*** (0.017) | 0.001 (0.026) |
Constant | 2.034*** (0.024) | 2.014*** (0.034) | 1.972*** (0.017) | 2.025*** (0.025) | 1.982*** (0.027) | 1.954*** (0.042) |
R-sq. | 0.035 | 0.035 | 0.035 | 0.035 | 0.035 | 0.035 |
N (person years) | 9,805 | 5,214 | 25,116 | 11,768 | 10,287 | 5,270 |
Significance denoted by:
≥ .001;
≥ .01;
≥ .05.