As President Obama continues his “Middle Class Jobs and Opportunities Tour" in Mooresville, N.C., on Thursday, middle-class Americans continue to experience historic losses of jobs and opportunities. The recession eliminated many mid-wage jobs, leaving moderately educated workers to take low-wage jobs if they can find work at all.
While the Obama administration has trumpeted job growth in recent months, the middle class is taking home a shrinking portion of the country's income. Deep job losses in occupations such as construction, information technology, manufacturing and insurance are not likely to recover. Middle-class families also saw nearly 30 percent of their wealth disappear over the past decade, while the cost of goods and services they rely upon steadily climbed.
The swift contraction of the middle class has left most Americans fearful they may be unable to maintain their standard of living.