PEW released a new report showing that both the income and wealth gap continued to widen between the upper class and the middle and low classes.
Click Here for Report
Of course, it helps to know how they define middle class. I am not sure that a single person earning $22,000 would see that as a middle class wage. In many parts of the country, it would not even be a living wage.
They also look at wealth differences:
The not very good news for most Americans–those in the lower and middle income groups are not better off than they were in in 1983 in terms of wealth. However, for those in the upper income group–they are better off than they were in 1983. While the great recession hit all groups, the upper income group took less of a hit and have recovered far more quickly–at least according to
According to PEW: “The tabulations from the Fed’s data indicate that the upper-income families have begun to regain some of the wealth they lost during the Great Recession, while middle-income families haven’t seen any gains. The median wealth among upper-income families increased from $595,300 in 2010 to $639,400 in 2013 (all dollar amounts in 2013 dollars). The typical wealth of middle-income families was basically unchanged in 2013 — it remained at about $96,500 over the same period.
As a result, the estimated wealth gap between upper-income and middle-income families has increased during the recovery. In 2010, the median wealth of upper-income families was 6.2 times the median wealth of middle-income families. By 2013, that wealth ratio grew to 6.6.”
Recall that the median is the mid-point of the distribution.