What is the middle class?

By: Cassidy Horton

Definition and Examples of the Middle Class

The middle class is the class that earns an income higher than the working class but lower than the upper class financially.

How the Middle Class Works

Middle-class families are not defined solely by annual income. They are also characterized by education, occupation, and goals. Although the middle class can live paycheck to paycheck, they typically have sufficient disposable income to spend appropriately on entertainment and vacations.

Are You Middle Class?

Determining your status in the middle class is not just about income; it also depends on your family size and geographic location. For instance, in a small town in Georgia, an amount of $80,000 may go further than it would if you lived in San Francisco. It is important to note that your status in the middle class can change from year to year. And if you are a college student living on an annual stipend of $15,000 now, you would be considered part of the lower class.

Notable Events

In 2020, the median household income in the United States decreased for the first time since 2011 from $69,560 to $67,521, and the poverty rate increased by one percentage point after a steady decline over five years. There are now over 37.2 million Americans in poverty, an increase of 3.3 million from 2019.

Source: https://www.thebalancemoney.com/what-is-the-middle-class-5206134

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