The Decline of the Middle Class

DECLINE OF THE MIDDLE CLASS People talk about the shrinking of the middle class, but what exactly is it they're referring to? How has the middle class changed in recent years? US ADULTS / 2008 US ADULTS / 2012 53% 49% ASSOCIATED THEMSELVES WITH THE MIDDLE INCOME TIER ASSOCIATED THEMSELVES WITH THE MIDOLE INCOME TIER A DECADE OF DECLINE MIDDLE-TIER MEDIAN HOUSEHOLD INCOME FALLS.. $72,956 $69,487 $58,307 1983 2001 2010 INCOMES ARE SCALED TO REFLECT A THREE-PERSON HOUSEHOLD (IN 2011 DOLLARS) SHARE OF AGGREGATE FAMILY INCOME FOR EACH TIER OF THE POPULATION 100 80 60 40 20 1970 1980 1990 2000 2010 KEY LOWEST FIFTH FOURTH FIFTH SECOND FIFTH HIGHEST FIFTH THIRD FIFTH TOP 5% Sources: U.S. Census Bureau 2010 Population Survey Ttotal bankruptcy" www.pewsocialtrends.org/2012/08/22/the-lost-decade-of-the-middle-class/ http://www.census.gov/hhes/www/income/data/historical/families/ INCOME PERCENT