Place, purpose, and the path to economic mobility

Economic mobility in America centers on the universal aspiration for financial security, which remains a primary goal across diverse demographics. Research from McKinsey’s Institute for Economic Mobility reveals that life stage—whether entering the workforce, raising children, or nearing retirement—shapes individual priorities and perceived barriers. While the rising cost of living, especially for groceries, creates significant psychological and financial strain, health and well-being serve as essential foundations for upward progress. Furthermore, individuals who feel deeply connected to their communities report greater agency and control over their futures. To improve mobility, leaders must prioritize affordability through reduced costs for essentials like housing and childcare, while simultaneously fostering transparent, skills-based career pathways and investing in civic spaces that strengthen community bonds. These efforts are critical to ensuring that the American dream remains an attainable reality rather than an elusive goal.