1 out of 3 American households can no longer afford rent, food, and transportation. The biggest rise in expenditures comes from rising housing costs.
The driving force in this political movement is anger and many American families need only look at their bank statements to understand why. Since 2004 median income has fallen by 13% while expenditures have risen by 14% according to latest figures pulled by Pew Research. That strikes at the heart of why the middle class […]
Low wage recovery highlighted by 7 out of 10 jobs added in January coming from minimum wage waiters and temporary retail workers.
The unemployment rate fell below the 5 percent mark for the first time since the Great Recession wrecked havoc on the economy. This is good news right? Well the stock market didn’t think so for a couple of reasons. First, this adds more fuel to pushing interest rates higher (a big expense on the $19 […]
What is a middle class income in America? A lot less than you think and Americans are getting poorer by the day.
Questions around being middle class are coming up a lot in the last few years. This inquiry is coming up because people are grasping at straws trying to maintain a quality of life that reflects a middle class lifestyle but many have incomes that simply do not support their spending. Americans are set to become […]
The rise of the part-time and disposable employment army: Record number of people now employed in transient labor positions while good paying jobs remain stuck in the mud.
The headline employment numbers present a glamorous picture of the economy but one that is not based on reality. After all, you have over 94 million Americans not in the labor force and this growing army of people is helping to keep the unemployment rate low. And for a growing number of Americans those in […]
The Middle Class in America has just become a minority: For the first time in over 50 years low-income and high-income Americans outnumber the middle class.
It was only a matter of time but we can now officially say that the middle class in America has reached minority status designation. Recent figures show that there are more low-income and high-income Americans versus those in the middle class. Most of the growth has been fueled by the trend in adding low wage […]
We have traded building cars for mixing drinks: This year the US added nearly 300,000 waiters and bartenders, and zero manufacturing workers. Manufacturing was once 33 percent of all jobs and now it is below 10 percent.
While the Federal Reserve now looks to have the green light on raising interest rates after many head fakes, the employment report isn’t so clear. Sure, we are adding jobs but we are adding a large number of jobs in the low wage segment of our economy. Case and point? Since the start of the […]
The American Dream deferred: Looking at the 4 horsemen of middle class destruction. Student debt, household income, low wage jobs, and FIRE economy dominance.
The angst that is being manifested in the political arena is largely being brought on by economic uncertainty. There is a general underlying anxiety of living in a United States with a weakened and invisible middle class. We are heading directly into that scenario with both eyes fully wide open. Many of the new jobs […]