The Lost Decade of the Middle Class | Pew Social & Demographic Trends

The Lost Decade of the Middle Class | Pew Social & Demographic Trends:

click link above   this is study that caused media flap yesterday

snip

Falling Behind, Moving Ahead

When middle-class Americans size up their personal economies, they see themselves as both moving ahead and falling behind. It all depends on the time frame. Over the short term, their evaluations tilt negative. Over the span of the past decade, they’re mixed. And over the full arc of their lives, they’re positive—albeit less so now than in the past.

The Great Recession officially ended three years ago, but most middle-class Americans are still feeling pinched. About six-in-ten (62%) say they had to reduce household spending in the past year because money was tight, compared with 53% who said so in 2008.

The downbeat short-term perspective is not surprising in light of the heavy economic blows delivered by the Great Recession of 2007-2009 and the sluggish recovery since. About four-in-ten (42%) middle-class adults say their household’s financial situation is worse now than it was before the recession, while 32% say they are in better shape; an additional 23% volunteered that their finances are unchanged. Of those who say they’re in worse shape, about half (51%) say it will take at least five years to recover, including 8% who predict they will never recover.