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The squeezed middleThe pressure on ordinary workers in America and Britain$
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Sophia Parker

Print publication date: 2013

Print ISBN-13: 9781447308942

Published to University Press Scholarship Online: September 2013

DOI: 10.1332/policypress/9781447308942.001.0001

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date: 19 August 2017

A lost decade, not a burst bubble: the declining living standards of middle-class households in the us and Britain

A lost decade, not a burst bubble: the declining living standards of middle-class households in the us and Britain

Chapter:
(p.16) (p.17) 1.1 A lost decade, not a burst bubble: the declining living standards of middle-class households in the us and Britain
Source:
The squeezed middle
Author(s):

Larry Mishel

Heidi Shierholz

Publisher:
Policy Press
DOI:10.1332/policypress/9781447308942.003.0002

This essay describes the extent to which growth in the US since the 1970s has fed through to people in the middle of the income distribution. From the 1970s onwards, median family incomes have not kept up with economic growth. While the incomes of higher-income families have grown rapidly, less well-off households have experienced slow, no, or negative growth. The wages of average working Americans have plateaued (and, in fact, fallen for men), despite ongoing growth at the national level. The authors argue that these trends are not simply the product of globalization and technology, but rather also the result of choices made about economic and social policies.

Keywords:   Income, Work, Growth, Family, Wages

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