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Apr 20, 2022 · The analysis below presents seven facts about how the economic status of the U.S. middle class and that of America’s major demographic groups have changed since 1971.
- Upsurge in gig economy jobs. Temp jobs, freelancing, and single-contract gigs all rose over the last decade thanks to companies like Uber, Airbnb, Lyft, Etsy, and Fiverr, which make it easier to hook consumers up with workers.
- College tuition costs rose alongside enormous increases in student loans. Stacker’s Linda Childers notes that in the last decade, “college tuition has outpaced inflation and wages.”
- Americans now spend more eating out than they do on groceries. Americans spent more money eating out than they did on “at-home” foods for the first time in 2014, when 50.1% of total food spending went to restaurants.
- Working from home became the new normal. Remote work positions have exploded in the last decade with 83% of U.S. workplaces offering either flexible options and policies or plans to introduce them, according to new research from International Workplace Group.
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The middle class, once the economic stratum of a clear majority of American adults, has steadily contracted in the past five decades. The share of adults who live in middle-class households fell from 61% in 1971 to 50% in 2021, according to a new Pew Research Center analysis of government data.
- We're becoming more diverse. Kaiser Family Foundation. The US population is changing drastically, particularly in the areas of race and ethnicity.
- We're getting older. U.S. Census Bureau. The Baby Boomers have only just started retiring, and they will help continue to grow the elderly share of the population in the coming decades.
- We're moving farther and farther west, plus a little south. U.S. Department of Commerce. Yes, the 1800s were the age of westward expansion, but the trend never really stopped.
- We're getting married later and later... sort of. US Census Bureau. Conventional wisdom says that Americans are getting married later and later.
Apr 20, 2022 · Among adults ages 30 to 44, for instancing, the share in upper-income households almost doubles, from 12% in 1971 to 21% in 2021. An share of adults who live in middle-class households fell from 61% in 1971 the 50% in 2021, according in a new analysis.
Aug 28, 2015 · Across the decades, Americans have faced new challenges, steeper costs of living, more diversity when it comes to family structure and race—and have evolved to meet these changing circumstances...
Nov 13, 2023 · The highest-earning 20% of Americans have seen their share of wealth grow over the past three decades, while those who earn less saw their share decline, according to data from the Federal Reserve.
