Hollowing Out of America’s Middle Class
Since 2000, the percentage of America’s middle class fell in nearly 90% of the nations 229 metropolitan areas according to PEW research.
Those metro areas account for 76% of the nation’s population in 2014.
In 160 metro areas the percentage of those with lower incomes rose. In 172 areas the percentage of people in higher income brackets rose. 108 metro areas experienced a rise in upper income and lower income households.
Please consider PEW’s study on America’s Shrinking Middle Class: A Close Look at Changes Within Metropolitan Areas.
Winners and Losers
Median Incomes Decline Across All Tiers
Definition of Middle Class
Pew’s Middle Income Calculator takes into consideration household size and location.
The calculator also let’s you compare your income to those of the same education level, race, age, and marital status.
The “Middle Class” is barely a majority. Within a few years it likely won’t be.
Those seeking an explanation for the massive dissatisfaction of both US political parties have the answer.
Mike “Mish” Shedlock