New York Fed study warns of erosion of American middle class

Skip to Navigation Skip to Content

New York Fed study warns of erosion of American middle class

Over the past 30 years, middle-class jobs shrank from 75 percent to 68 percent of the U.S. workforce. Meanwhile, job growth shifted to high-paying jobs requiring a lot of education — such as legal, engineering and technology industries — and low-paying jobs requiring little schooling, such as food preparation, maintenance and personal care. A new Federal Reserve Bank of New York report warned that the middle-class consumer base that historically powered America’s economy is beginning to erode.

Advertisement

All comments on this page are subject to our Terms of Use.

The following are not allowed:

  • ALL CAPS
  • Links
  • Profanity / Racism / Offensive Language
URL: http://www.sfexaminer.com/opinion/dim-bulb/2011/11/new-york-fed-study-warns-erosion-american-middle-class