It has become something of a cliché — especially during political campaign seasons — to say that America is losing its middle class.
Unfortunately, mounting evidence suggests that this is becoming true.
New America Foundation study
Peter Gorenstein, writing for the Daily Ticker (Yahoo! News, link here), highlights snippets from the New America Foundation’s new report, The American Middle Class Under Stress:
— There are 8.5 million people receiving unemployment insurance and over 40 million receiving food stamps.
— At the current pace of job creation, the economy won’t return to full employment until 2018.
— Middle-income jobs are disappearing from the economy. The share of middle-income jobs in the United States has fallen from 52% in 1980 to 42% in 2010.
Go here to access a pdf of the full New America Foundation report, written by Sherle R. Schwenninger and Samuel Sherraden.