Michael Snyder Blog | 15 Signs That The US Middle Class Is Being Systematically Destroyed | Talkmarkets
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Michael T. Snyder is a former Washington D.C. attorney who now publishes The Economic Collapse Blog. His new thriller entitled “more

15 Signs That The US Middle Class Is Being Systematically Destroyed

Date: Wednesday, August 1, 2018 3:19 PM EDT

In order to have a thriving middle class, you need middle class jobs, and our country is in desperate need of more of those jobs. At this point most American families are living on the edge, and more are falling into poverty with each passing month. The following are 15 signs that the middle class in the United States is being systematically destroyed…

#1 78 million Americans are participating in the “gig economy” because full-time jobs just don’t pay enough to make ends meet these days.

#2 In 2011, the average home price was 3.56 times the average yearly salary in the United States.  But by the time 2017 was finished, the average home price was 4.73 times the average yearly salary in the United States.

#3 In 1980, the average American worker’s debt was 1.96 times larger than his or her monthly salary.  Today, that number has ballooned to 5.00.

#4 In the United States today, 66 percent of all jobs pay less than 20 dollars an hour.

#5 102 million working age Americans do not have a job right now.  That number is higher than it was at any point during the last recession.

#6 Earnings for low-skill jobs have stayed very flat for the last 40 years.

#7 Americans have been spending more money than they make for 28 months in a row.

#8 In the United States today, the average young adult with student loan debt has a negative net worth.

#9 At this point, the average American household is nearly $140,000 in debt.

#10 Poverty rates in U.S. suburbs “have increased by 50 percent since 1990”.

#11 Almost 51 million U.S. households “can’t afford basics like rent and food”.

#12 The bottom 40 percent of all U.S. households bring home just 11.4 percent of all income.

#13 According to the Federal Reserve, 4 out of 10 Americans do not have enough money to cover an unexpected $400 expense without borrowing the money or selling something they own.

#14 22 percent of all Americans cannot pay all of their bills in a typical month.

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