Stronger families are associated with more economic growth, less child poverty, and higher median income, according to a report from the American Enterprise Institute (AEI).
"Shifts in marriage and family structure are important factors in state’s economic performance, including their economic growth, economic activity, child poverty and median family income," the report states.
The analysis finds that there are four main reasons why strong families are associated with more economic prosperity. These include: men having higher participation in the labor force and being more engaged at work, better savings for families, increased educational and labor force outcomes for children, and a reduction in crime and violence.
When two people head a household, it is easier for the family to accumulate wealth and foster economic wellbeing.
"Families living in married households benefit from income pooling, economies of scale, and specialization and exchange more than families in unmarried households," states the report. "Research shows that married households have more assets and income and are less likely to experience poverty than households headed by cohabiting couples or singles."