The Shrinking American Middle Class

The Social and Cultural Implications of Growing Inequality

Business & Finance, Management & Leadership, Production & Operations Management, Economics, International Economics
Cover of the book The Shrinking American Middle Class by Joseph Dillon Davey, Palgrave Macmillan US
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Author: Joseph Dillon Davey ISBN: 9781137295071
Publisher: Palgrave Macmillan US Publication: September 14, 2012
Imprint: Palgrave Macmillan Language: English
Author: Joseph Dillon Davey
ISBN: 9781137295071
Publisher: Palgrave Macmillan US
Publication: September 14, 2012
Imprint: Palgrave Macmillan
Language: English

The United States lost one third of its factory jobs in the past decade as jobs were outsourced offshore, mostly to Asia. Jobs that require a college degree are next to go. China will award six times as many degrees this year as they did ten years ago and any job that can be digitized will be 'tradable'. Estimates of the number of vulnerable jobs range from a low 11 million to a staggering 56 million 'middle class' jobs. The median United States household income has already dropped by seven percent since 2000 and without dramatic changes in the American workforce that trend will become a disaster for middle class Americans.

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The United States lost one third of its factory jobs in the past decade as jobs were outsourced offshore, mostly to Asia. Jobs that require a college degree are next to go. China will award six times as many degrees this year as they did ten years ago and any job that can be digitized will be 'tradable'. Estimates of the number of vulnerable jobs range from a low 11 million to a staggering 56 million 'middle class' jobs. The median United States household income has already dropped by seven percent since 2000 and without dramatic changes in the American workforce that trend will become a disaster for middle class Americans.

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