The middle class is shrinking, stagnating, and becoming less secure
If you want to understand the surge in angry politics around the developed world, from President Trump’s populist politics to the U.K.’s Brexit to France’s “yellow-vest” protesters, look no further than the economic plight of the middle class.
The middle classes are getting squeezed particularly hard by the rising costs of education, health care and housing, the OECD writes. College fees are up, in the U.S. and elsewhere. Homes are much more expensive relative to incomes. About 70% of baby boomers were already middle-class in their 20s, says the OECD. The figure today for millennials: 60%. And downward mobility — the risk of losing your middle-class lifestyle and ending up poor — is a rising concern.
Some good news for Americans: The shrinking of America’s middle class may have finally ground to a halt. Just over half of American adults lived in middle-class households in 2016, up slightly from 51% in 2011, but down from 54% in 2001 and 61% in 1971, according to recent data released by the Pew Research Center, a nonprofit think tank in Washington, D.C.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fewer millennials are making it into the middle classAmerica's middle class families aren't the only ones having a tough time these days. Fewer millennials the world over are achieving that status.
Read more »
U.S. EPA may grant fewer biofuel waivers due to low credit prices: WheelerThe U.S. Environmental Protection Agency could grant fewer waivers exempting sma...
Read more »
Higher minimum wage means restaurants raise prices and fewer employee hours, survey findsFor restaurants, minimum wage hikes usually mean higher menu prices and fewer employee hours, according to a survey released Wednesday.
Read more »
California Could See Fewer Wildfires Thanks to Wet WinterAn unusually wet winter in California has officials hopeful that there will be fewer deadly wildfires in 2019 than last year, but if the weather heats up quickly, the danger could increase later this year.
Read more »
US airline service soars to record high amid less complaints, fewer passengers bumped offThe annual Airline Quality Rating shows that the quality of airline service in the U.S. soared to a record high in 2018.
Read more »
Senate GOP game plan means more Trump nominees, fewer billsMitch McConnell says the Senate will be in the 'personnel business' this year. Nearly 100 days into the new Congress, the drive to confirm is adding more conservatives to the courts and putting more Trump appointees in government offices. The result is that the GOP-controlled Senate is on
Read more »
Analysis | The Cybersecurity 202: There are even fewer women in U.S. government cybersecurity than there are globallyThe Cybersecurity 202: There are even fewer women in U.S. government cybersecurity than there are globally
Read more »
Boeing deliveries sink in first quarter after 737 MAX groundingsBoeing Co said on Tuesday it handed over far fewer aircraft in the first quarter...
Read more »
Opinion | Hidden Costs in the ‘Fight for $15’Opinion: The evidence continues to show that trying to increase low-skilled pay by political fiat isn’t a free lunch, writes The Editorial Board
Read more »