Great Recession: Middle-Class Sinking Even Further

Friday, September 20, 2013

A lot has changed since 1988, but definitely not the amount a typical household makes each year. Today, a typical household makes $51,017 according to the Census Bureau, roughly the same amount a typical household made in 1988. It's not something you'd expect from the richest and most technologically advanced nation. “Almost all of the benefits of growth since the trough of the Great Recession have been going to those in the upper classes,” said Timothy Smeeding, who heads the Institute for Research on Poverty at the University of Madison-Wisconsin. 

America’s Sinking Middle Class - New York Times

Having two jobs doesn't always translate to having a roof over your head. In New York City, some people are working long hours and sometimes two jobs at a time, but cannot afford housing. “A one-bedroom in East New York or the South Bronx is still $1,000 a month,” said Patrick Markee, senior policy analyst with the Coalition for the Homeless, an advocacy and housing services group. “The jobs aren’t enough to get people out of homelessness.” Read more to learn about two NYC women struggling to pull themselves out of poverty.  

In New York, Having a Job, or 2, Doesn’t Mean Having a Home - New York Times

This week the Census Bureau reported the latest depressing decline in middle-class incomes during the so-called economic recovery, but they missed an important factor. Middle-class incomes have steadily fallen alongside the steadily decreasing union membership rates. Read more and view the chart: 

Middle-Class Decline Mirrors The Fall Of Unions In One Chart - Huffington Post

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The great American middle class wasn’t something that just happened – it was built brick by brick. It was built by soldiers returning from war and a government that repaid them by giving them a shot at college.