This paper uses longitudinal data from the Panel Study of Income Dynamics to examine the relationship between changes in marital status and economic status. Differences between men and women and between whites and blacks are also considered. A major finding is that, after adjusting for changes in family size, the economic status of divorced or separated men improves, while that of women declines. Components of income change are discussed, with special emphasis on changes in the labor force and welfare status of women who were divorced or separated during the analysis period. Finally, data on the magnitude and distribution of alimony/child-support payments are presented.