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The reason that the middle class is shrinking is because more people have moved into the upper class. In 1971, just 11% of people in the U.S. lived in upper-income households.
Decade by decade, America's middle class has been shrinking over the past 50 years as rising inequality pushes more Americans out of the middle and into the upper and lower income brackets.
Most shrinking middle-class jobs only require a high school degree to enter the field, with experts noting that better-paying careers that are growing now generally require higher levels of education.
Charles Weston [5] summarizes the middle-class squeeze in this way: "Being middle class used to mean having a reliable job with fair pay; access to health care; a safe and stable home; the opportunity to provide a good education for one’s children, including a college education; time off work for vacations and major life events; and the ...
According to CNBC, the current national median household income in 2023 was $80,610, and the middle class is commonly defined as earning between two-thirds and double the household median income.
The middle class is often synonymous with having enough money to take care of all your basic expenses without struggling too much, but not having so much that you're wealthy either. Many people ...
The gap between the middle and upper classes appears to be shrinking. A surprising 51% of Americans made up the middle class as of 2023. If that seems high, however, 61% of Americans identified as...
The gap between the middle and upper class appears to be shrinking. This might seem surprising as nearly 70% of Americans identified as middle class in a Northwestern Mutual 2018 Planning &...