Family Structure and Financial Well-Being
Family Structure and Financial Well-Being
Evidence from the Great Recession
This chapter presents an analysis of the influence of changes in family size and complexity of living relationships on a family's economic well-being during the Great Recession. The analysis reveals that the average size of households did not change markedly following the Great Recession. However, the stable average conceals considerable churning with about one-third of households adding or losing members. Decreases in household size and complexity are associated with higher standards of living in the household for white families, no change for African American families, and a lower standard of living for Hispanic families. The authors conclude that while families play an important role in providing income support in difficult economic times, changes in living arrangements that increase family size typically result in decreases in economic welfare.
Keywords: Great Recession, household size, welfare, living standards, living arrangements
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