The good news is that more Americans have jobs. The bad news is that they aren’t feeling like they’re getting ahead, for good reason.
“Overall median household expenditures grew by about 14 percent from 2004; income, however, has declined by 13 percent in the same period.” – CBS News
The confusion for some can come from their level of income. People with high incomes continue to tend to have more than enough, and are experiencing wage growth. People with low incomes are seeing wages decline and have experienced a crossover where many no longer can save and where emergencies are paid for by credit which increases expenses. As fewer people are in the middle, the country is bifurcating into two separate perspectives; one in which life is defined by the levels of luxuries, and one in which life is increasingly difficult. The trend is unsustainable.
(Click on the chart for the link.)