We’ve heard repeatedly about the dying middle class. And with economic instability worldwide, it’s easy to see why. But how has the economy really affected middle-income people worldwide?
Pew Research Center looked at the rise and fall of the middle class from 1991 to 2010. It found middle-class fortunes are scattered and inconsistent across the board, the United States included. Some have prospered while others have tanked completely.
Pew suggests countries whose middle class is smaller see greater income inequality among their people and a poor economic climate. On the other hand, a larger middle class singles potential for more upward mobility and a better economy.
Middle-income people are known for heavily influencing a country’s successes and failures. So which countries have middle classes that are dying, and which are thriving, according to Pew’s report? Let’s take a closer look at the countries.
- Percentage of middle class in 1991: 80%
- Percentage of middle class in 2010: 80%
Pew Research Center suggests Denmark’s economy remained stable throughout the past couple decades, ultimately withstanding the turmoil some of its European neighbors faced. However, the middle class appears to be stuck in limbo. As of 2010, the middle class continued to account for 80% of the population, the same as in 1991. On the positive, only 14% of the population is considered lower income, which is one of the lowest percentages on the report.
Next: See why this nearby country is experiencing economic trouble.