Pew Research Center - The American middle class is losing ground
in metropolitan areas across the country, affecting communities from
Boston to Seattle and from Dallas to Milwaukee. From 2000 to 2014 the
share of adults living in middle-income households fell in 203 of the
229 U.S. metropolitan areas examined in a new Pew Research Center
analysis of government data.
The decrease in the middle-class share was often substantial, measuring 6 percentage points or more in 53 metropolitan areas, compared with a 4-point drop nationally.
The shrinking of the middle class at the
national level, to the point where it may no longer be the economic
majority in the U.S., was documented in an earlier analysis
by the Pew Research Center. The changes at the metropolitan level, the
subject of this in-depth look at the American middle class, demonstrate
that the national trend is the result of widespread declines in
localities all around the country.
1 comment:
It's called gentrification. It's been an ongoing process for several decades, but may only now garner attention because, unlike that of the past, encroachment now finally impacts what is pathetically left of the so-called middle-class.
Neo-Liberalism has really been about constructing a parallel economy. There is what's left of the traditional economy, now moribund after literally decades of stagflation and static, if not declining wages. Then there is that sector built upon the arcane mysteries of twenty-first century finalization---essentially the process of manufacturing private money, money spent primarily within the ranks of the magic financiers.
It is a realm imagined to be bound by nothing, free to plunder any and every thing.
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