Middle-class Americans are a dying species, according to a report released by the Pew Research Center. Once the boast of the United States and an engine driving the American Dream, the middle class in America is shrinking rapidly due to decreasing incomes. The Pew report stated that it "may no longer be the economic majority in the U.S."
The Pew Research Center report, released late yesterday, found that Americans of middle income are declining in 203 ou of 229 urban areas even 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.
"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 contrast, in 1999, the average middle class income was $77,898. In 2014 it was $72,919, a difference of $4,979. It was in the key battleground states where both Donald Trump and Sen. Bernie Sanders have done well, such as Indiana, Michigan, and West Virginia, where the biggest drop in middle class occurred.
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