08/31/2012; Tula Connell
Several new economic reports out in time for Labor Day point to long-term trends that are driving a declining standard of living for America’s middle- and low-income workers. Here’s a quick summary (click on charts to expand).
Middle-class incomes have declined over the past decades. For the past several decades, the share of the economic pie that the middle class receives has decreased and fewer people have earned middle-class incomes, according to the Center for American Progress. “Moreover, the costs of middle-class basics have risen and debt levels have increased.”
The center’s “5 Charts on the State of the Middle Class” offers downloadable versions of each chart. Continue reading “Labor Day Reports Show Long-Term Income, Wealth Decline”