Thursday, August 23, 2012

What is the Middle Class?

A shrinking share of Americans call themselves middle class, according to a Pew survey. In 2012, only 49 percent of people aged 18 or older identified themselves as middle class, down from 53 percent in 2008.

And just what is the middle class, dollar wise? Among those who identify themselves as middle class, it is a median income of $70,000 for a family of four. Interestingly, that figure is not far below the $77,749 median income of married couples with children, according to Current Population Survey data.

Source: Pew Research Center, The Lost Decade of the Middle Class

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