Middle-class incomes for a family of three have fallen. (Pew Research Center)
The dip in optimism compared to before the recession began in 2008 is most pronounced among middle class people nearing retirement. Median income and net worth fell precipitously for middle class Americans over the past 10 years, which explains the gloomier attitudes about the future. (The percentage of Americans who self-identify as middle class has also shrunk, from 53 percent in 2008 to 49 percent in 2011.) Only 43 percent of middle class folks said they think their children will have a better standard of living than they did, down from 51 percent who said the same just four years ago.
Nevertheless, 60 percent of respondents said their standard of living is better than their parents was when they were of the same age, and two-thirds of middle class people agree that "most people who want to get ahead can make it if they are willing to work hard."
Respondents indicated that a family of four needed to make about $70,000 each year to keep up a middle class lifestyle.
- Politics & Government
- middle class Americans
- middle class