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IPFS News Link • Employment & Jobs

Say Goodbye To The Middle Class: Half Of All American Workers Made Less Than $40,847.18 Last Year

•, by Michael

The Social Security Administration just released national wage statistics for 2022, and the figures that they have given us do not paint a pretty picture at all.  In particular, we should all be deeply alarmed that the median wage earner brought home just $40,847.18 last year.  That breaks down to about $3,400 a month, and that is before taxes.  Needless to say, you cannot live a middle class lifestyle in America today on just $3,400 a month before taxes.  So in most households more than one person must work, and in many cases more than one person is working multiple jobs.

During our current inflation crisis, the cost of living has been rising much faster than paychecks have, and this is squeezing American families like never before.

Right now, the national median price of renting a home is $1,978 a month, and so after paying rent on a home the average worker wouldn't have much left over for anything else.