“…Income volatility—measured as the amount of change around mean income or by counts of large shocks (often losses) to income—has increased substantially since the 1970s, particularly for low‐income families (Dynan, Elmendorf, & Sichel, ; Gottschalk & Moffitt, ; Hardy & Ziliak, ; Morduch & Schneider, ; Morris, Hill, Gennetian, Rodrigues, & Wolf, ; Western et al, , ). This trend is consistent with the increasing instability of work, family structure, and public assistance for less‐educated adults during the same period (Cherlin, ; Farber, ; Hardy, ; Kalleberg, , ; Lambert, Fugiel, & Henly, ; Manning, Smock, & Majumdar, ). The causes of income changes and the fluctuations in resources have been shown to affect material hardship and adult and child outcomes (Gennetian et al, ; Hardy, ; Leete & Bania, ; Sandstrom & Huerta, ).…”