Pew released a sobering report last week: An Uneven Recovery, 2009-2011
The central conclusion: the rich have gotten richer and the middle class has gotten crushed.
Upper and lower income groups have both increased by about 5 percentage points of the population mix.
In other words, the percentage of middle class folks – earning from 2/3s to twice the median income – has dropped by 10 percentage points.
What’s going on?
The 2nd chart – from the National Employment & Law Project breaks the code:
There are about as many high paying jobs now as there were before the recession … recession job losses have been recouped.
With a quick glance at the chart, one can logically conclude that many of the folks who lost middle income jobs have had to accept low paying jobs – just to survive.
= = = = =
No matter how you cut it, that’s pretty sad.
* * * * *
Follow on Twitter @KenHoma >> Latest Posts
The Homa Files 
Leave a comment