New indications have appeared in the US that show the middle class in the world’s largest economy is hollowing out.PressTV-US middle class shrinking in cities: Study
A report by the Pew Research Center shows that a widening wealth gap is moving more households into either higher- or lower-income groups in major metro areas, with fewer remaining in the middle.
In nearly one-quarter of metro areas, middle-class adults no longer make up a majority, the Pew analysis found. That's up from fewer than 10 percent of metro areas in 2000.
That sharp shift reflects a broader erosion that occurred from 2000 through 2014. Over that time, the middle class shrank in nine of every 10 metro areas, Pew found.
A widening US wealth gap is moving more American households into either higher- or lower-income groups in major cities, with fewer remaining in the middle, according to a report.
From 2000 to 2014 the share of adults living in middle-income households fell in 203 of the 229 US metropolitan areas examined in a new Pew Research Center analysis of US 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, according to the Pew, a think tank in Washington, DC.
The shrinking of the middle class at the national level is reaching a point where it may no longer be the economic majority in the US, the study said.