Posted 9/18/2023, 3:34:56 PM

Shrinking Middle Class: Study Finds Only Half of Americans Now Consider Themselves Middle Class as Costs Rise

The American middle class has been shrinking since the 1970s, dropping from 61% to 50%.
Pew defines middle class as earning between 2/3 and twice the median US household income.
In 2023, the minimum middle class income for a family of four ranges from $51,798 in Alabama to $81,396 in Washington DC.
More Americans are now at the lower and upper ends of the income spectrum.
Rising costs of living since 2020 likely pushed many out of the middle class.

newsweek.com

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