The middle class is hollowing out.
Real median household income is lower today than in 1999. Today, in our supposed recovery, more than 44 million Americans are on food stamps.
Another measure of how bad the job situation really is is the Labor
Participation Rate—the percentage of Americans 18-64 who are
working—62.7%, is the lowest since 1978.
The government trumpets and the media parrots
the so-called “unemployment rate” of 4.6%.That statistic doesn’t
include the short- and long-term discouraged workers, which when added
equals, according to ShadowStats.com, 22%.
Alas, the decline in the number of good jobs, those paying a stable, middle-class income plus benefits is worsening.
I document that in my PsychologyToday.com article today and propose ways to maximize your chances of thriving despite it.