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This paper by AARP Public Policy Institute’s Gary Koenig reports that the middle class today is smaller as well as older, more educated, more racially and ethnically diverse, and more likely to be single than middle-class households in the past. It notes that most Americans identify themselves as middle class and that “middle class” is not synonymous with “middle income.” However, due to the broad availability of data on Americans’ income, researchers typically use income as an indicator of membership in the middle class. The paper shows what it means to be “middle class” under three income-based definitions and analyzes economic trends affecting Americans in the middle income brackets
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Living Longer, Rising Costs and Income Inequality Shape Older People’s Quality of Life
The racially and ethnically diverse people who make up the generation in their 60s today are healthier and living longer than their parents did. By 2050, the world’s population age 60 and older is expected to total two billion, up from 900 million in 2015. While longer life outcomes present opportunities for individuals, families and the society overall, they also come with challenges. In this day of increased longevity, we must consider how health and economic inequities are widening for people over 60, especially in the wake of the COVID-19 pandemic.
