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America's disappearing middle class

From economy.money.cnn.com

Fewer and fewer people are feeling middle class these days. The share of Americans who describe themselves as middle class has taken a tumble, while the percentage who identify as lower class has soared over the past six years, according to a recent survey by the Pew Research Center/USA Today. The share of Americans who consider themselves upper class has also shrunk. This downward shift is likely due to falling wages and the weak job market, said Rakesh Kochhar, associate director for research at the Pew Research Center's Hispanic Trends Project. The survey notes that median household income fell from $55,627 in ... (full story)

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