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Economic News, Data and Analysis

Middle class grow fearful about their prospects

I don’t think the unease cited in the Pew report is just because of the recession. The latest recovery (since 2001) seems to be one of the worst, and maybe the worst, of the post WWII era.

Middle class grow fearful about their prospects – Stocks & economy- msnbc.com

The survey by the Pew Research Center, a Washington-based research organization, paints a mixed picture for the 53 percent of adults in the country who define themselves as “middle class,” with household incomes ranging from below $40,000 to more than $100,000.
It found that a majority of Americans said they have not progressed in the past five years. One in four, or 25 percent, said their economic situation had not improved, while 31 percent said they had fallen backward. Those numbers together are the highest since the survey question was first asked in 1964. Among the middle class, 54 percent said they had made no progress (26 percent) or fallen back (28 percent).

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