Middle class is shrinking fastest in this Arkansas city (Springdale)

(NEXSTAR) – Americans in every state, city and corner of the country are feeling the squeeze amid years (upon years) of rising prices. As the cost of living grows and wages for many workers stagnate, a middle-class lifestyle can feel more elusive.

A Pew Research study found about 51% of Americans live in middle-class households in 2023, down from 61% in 1971.

“As a result, Americans are more apart than before financially. From 1971 to 2023, the share of Americans who live in lower-income households increased from 27% to 30%, and the share in upper-income households increased from 11% to 19%,” Pew wrote.

Some of the changes were dramatic, like in Springdale, Arkansas, and Carmel, Indiana, where the middle class shrunk by double-digit percentage points in 5 years.

https://www.kark.com/news/national-news/middle-class-is-shrinking-fastest-in-this-arkansas-city/