Is The Middle Class Dying?

There is an implicit promise in America that as long as you work hard, you can raise a family and lead a comfortable life. But is the U.S. keeping this promise?

By many accounts, no. Wages have been growing far more slowly than worker productivity since the late 1970s, and the economic downturn has made it worse. The median U.S. household is 8 percent poorer than it was before the recession, largely because high unemployment has thrown people out of work and placed downward pressure on wages. Middle-class jobs are disappearing as low-wage jobs take their place. Income inequality also has grown. The average household in the wealthiest one percent now is 288 times richer than the median U.S. household.