Wednesday, May 4, 2011

America’s Middle Class Crisis: The Sobering Facts

I'm back...I was on vacation.  Now, back to the grind.

Here are just some of the sobering facts:
-- There are 8.5 million people receiving unemployment insurance and over 40 million receiving food stamps.
-- At the current pace of job creation, the economy won't return to full employment until 2018.
-- Middle-income jobs are disappearing from the economy. The share of middle-income jobs in the United States has fallen from 52% in 1980 to 42% in 2010.
-- Middle-income jobs have been replaced by low-income jobs, which now make up 41% of total employment.
-- 17 million Americans with college degrees are doing jobs that require less than the skill levels associated with a bachelor's degree.
-- Over the past year, nominal wages grew only 1.7% while all consumer prices, including food and energy, increased by 2.7%.

Watch it all

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