Study: Middle Class Having ‘Worst Decade In Modern History’

WASHINGTON (CBSDC/AP) – According to a study released earlier this week by the Pew Research Center, the middle class is receiving less of America’s total income, declining to its smallest share since the end of World War II.

The middle class is defined by a household whose income ranges from $39,000 to $118,000. The survey described this group as its “worst decade in modern history.”

The recession technically ended three years ago, but the middle class is still feeling economic woes.

The Associated Press reports that most middle class people feel they have to reduce spending and even fewer feel their hard work will get them ahead in life. Middle class families also feel their children’s future will be the same or worse.

The survey found that 85 percent of the middle class believe it is more difficult now to maintain a standard of living then it was a decade ago.

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