Middle Class Takes Financial Hit In Most US Cities This Century

[Purveyor]

Source: Financial Times

May 11, 2016 10:00 pm

More than four-fifths of America’s metropolitan areas have seen household incomes decline this century, according to new research that exposes the politically charged reality of middle-class decline at the heart of this year’s presidential election.

The research on urban centres that are home to three-quarters of the US population shows that median household incomes, adjusted for the cost of living in the area, grew in just 39 out of 229 metro areas between 1999 and 2014.

The figures prepared by the non-partisan Pew Research Center in consultation with the Financial Times cast light on the drivers of the economic discontent that have fuelled the rise of Donald Trump, the likely Republican nominee, and Bernie Sanders, the challenger to Democratic frontrunner Hillary Clinton.

Both men’s campaigns have tapped into deep-seated concerns among middle class voters on the right and the left. Pew’s research illuminates one source of that anxiety and raises questions about even some of America’s most celebrated economic success stories.


Read more: https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwjTva_n-9LMAhVBXGMKHZtRCHcQqQIIHTAA&url=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F695bfa18-1797-11e6-b197-a4af20d5575e.html&usg=AFQjCNHp_0snbzFi9K7UwR_KuCq41I809Q

[hobbit709]

1. Anyone surprised by this obviously hasn't been paying attention.

[Skwmom]

4. Don't worry, the corporate experts will be out with a study saying the Middle Class has flourished.

Of course the study won't be worth the paper it is written on...

[mdbl]

5. no kidding!

been watching it happen for 35 years while screwy voters put the foxes in charge of the hen house.

[closeupready]

2. Was just reading this article. Outrageous, if you ask me.

If the economy is improving, the middle class should be EXPANDING, not diminishing. K&R

[turbinetree]

3. Just great the century is only 16 years old----and lets see what gonna next after these events------

2008 thousands thrown in the streets

CAFTA-----------

TPP------------------newest shafta "trade deal"

Iraq----------3 trillion and counting

Antarctica and the Arctic and Greenland going to s**********t in a hand bag

And the poisoning of a city in Flint Michigan for starters

And there is a new fascists running for office of the republican party, just like the red baiting racists in the 1960's, 1970's , 1980's, 1990's


Anyone can add to this mix-------------------------

[groundloop]

6. I want to say that this isn't 'late breaking news'.... because it's so fucking obvious

We (white collar professionals for instance) get meager raises that don't even keep up with the cost of living. The cost of college is skyrocketing for our kids. We don't have a true retirement anymore, rather we depend on our luck playing the markets with our 401K investments, while at the same time the wealthy class want to further reduce our Social Security benefits even more.

If you're an 'investment' banker who profits from breaking up companies you've likely done very well for yourself the past 20 years or so. The rest of us, not so much.

[hedda_foil]

7. What's with the clothespin in the Hillary logo? Talk about an oddball image.

Is it supposed to appeal to women who wear dresses and heels to pin up the wash on an outdoor clothesline or what?

[Purveyor]

8. Of course you have heard of 'I'll vote but I will have to hold my nose'??? eom

[hedda_foil]

9. Works for me!

[elmac]

10. Lets not be so greedy

after all, the uber rich are doing spectacularly well, so lets look at this as the glass half full!: