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Research Suggests the Pandemic has Accelerated the Decline of the American Middle Class

2022-04-20 1 Dailymotion

Research Suggests , the Pandemic has Accelerated , the Decline of the <br />American Middle Class.<br />According to 'U.S. News & World Report,' Pew Research <br />Center data suggests that the COVID-19 pandemic impacted <br />lower- and middle-income households the hardest.<br />Meanwhile, another Pew report <br />shows that America's middle class <br />has shrunk in the past 50 years. .<br />The Pew reports suggest that the economic <br />fallout of the pandemic has only accelerated, the decline of the U.S. middle class.<br />In 1971, , 61% of U.S. households , were considered middle class.<br />By 2021, that number plummeted 50%. .<br />At the same time, the percentage of Americans in the upper-income level rose from 14% to 21%.<br />Over the same period, , those in the lower-income bracket , rose from 25% to 29%. .<br />Household incomes have risen considerably <br />since 1970, but those of middle-class <br />households have not climbed nearly as much <br />as those of upper-income households, Rakesh Kochbar and Stella Sechopoulos, Pew Research <br />Center report authors, via 'U.S. News and World Report'.<br />The middle class, once the economic stratum of a clear majority of American adults, has steadily contracted in the past five decades, Rakesh Kochbar and Stella Sechopoulos, Pew Research <br />Center report authors, via 'U.S. News and World Report'.<br />According to Pew's COVID-19 study, 15% of adults experienced some form of unemployment in 2020.<br />Comparatively, 28.2% of lower-income adults experienced unemployment, while only 7.8% of upper-income workers suffered the same fate. .<br />Pew considers lower-income households as those <br />earning under $52,000 annually, while upper-income <br />households make over $156,000 a year

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