Categories:  'Economic Inequality'  

The American Middle Class is Shrinking and The Class Gap Only Grows Further

"Slightly more than half of Americans (about 50.1 percent) either live in a lower-class household (roughly 29 percent) or an upper-class household (about 21 percent). [...]

“Slightly more than half of Americans (about 50.1 percent) either live in a lower-class household (roughly 29 percent) or an upper-class household (about 21 percent).

But Pew also points out that Americans have all gained. That is, the median income has risen 34 percent since 1970.

So we should be grateful, no? Yes, but here’s the rub: Upper-class Americans have seen their incomes rise 47 percent, while lower-class families have gained only 28 percent.

In other words, the U.S. economy has been growing, and we all have been getting wealthier. But people who have the biggest incomes have been pulling away from the pack in a trend that shows no sign of slowing. Those upper-class households are increasingly likely to be headed by a married couple with higher educations, the data show.”

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Articles

Publication Date: 22/06/2016
Source: NPR
Author: Mat Johnson
Publication Date: 30/07/2017
Source: CNBC
Author: Emmie Martin
Publication Date: 09/12/2015
Source: NPR
Author: Marilyn Geewax