According to the U.S. Census Bureau, the share of income controlled by the wealthiest 5% of households climbed from 23.3% in 2015 to 23.6% in 2022. Meanwhile, the share of income controlled by the poorest 20% of households fell from 3.2% to 3.0% over the same period.
A 2022 study from the Pew Research Center found that the share of American adults in the middle-income tier fell from 61% in 1971 to just 50% in 2021, indicating a decline in the middle class over the years due to various factors like globalization and technological advancements.
The indicators of middle-class status, such as disposable income for luxuries and savings, are not definitive, leading to varying interpretations. Household income remains a more quantitative measure to define middle-class status.
#wealth-inequality #middle-class-decline #socioeconomic-spectrum #household-income #financial-stability
Collection
[
|
...
]