Pew: Middle class dying off, incomes $4,979 less than in 1999
By Paul Bedard (@SecretsBedard) • 5/11/16 5:39 PM
http://www.washingtonexaminer.com/pew-middle-class-dying-off-incomes-4979-less-than-in-1999/article/2591088 The middle class, once the engine driving the American Dream, is shrinking rapidly due to decreasing incomes, and "may no longer be the economic majority in the U.S.," according to the Pew Research Center.
In a report released late Wednesday, Pew found that middle income Americans are decreasing in 203 of 229 urban areas while the numbers of poor and rich are soaring.
"The widespread erosion of the middle class took place against the backdrop of a decrease in household incomes in most U.S. metropolitan areas," said Pew.
More from the Washington Examiner
Trump meets with Ryan, Priebus
By Susan Ferrechio
• 05/12/16 9:20 AM
"Nationwide, the median income of U.S. households in 2014 stood at 8 percent less than in 1999, a reminder that the economy has yet to fully recover from the effects of the Great Recession of 2007-09. The decline was pervasive, with median incomes falling in 190 of 229 metropolitan areas examined," it added.
In 1999, the average middle class income was $77,898. In 2014 it was $72,919, a difference of $4,979.
The biggest drop in middle class occurred in the key political battleground states where both Republican Donald Trump and Democrat Bernie Sanders have done well, including Indiana and Michigan.
