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U.S. Middle Class Shrinks Amid Rising Costs and Stagnant Wages

2/23/2025

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Summary

Story summary

The U.S. middle class has decreased from 61% in 1971 to 51% in 2023, driven by inflation and rising living costs.
The middle-class income range remains $53,740 to $161,220, based on 2023 median income.
Increased costs for housing and groceries challenge families' ability to sustain a middle-class lifestyle.
Stagnant wages have exacerbated financial strain, impacting even higher earners.

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Story summary

The U.S. middle class has decreased from 61% in 1971 to 51% in 2023, driven by inflation and rising living costs.
The middle-class income range remains $53,740 to $161,220, based on 2023 median income.
Increased costs for housing and groceries challenge families' ability to sustain a middle-class lifestyle.
Stagnant wages have exacerbated financial strain, impacting even higher earners.