Middle Class Decline Under Obama Shown in 5 Charts

Economy Offers Fewer Middle-Wage Jobs: Of the more than six million jobs lost during the recession, measured as Q1 2008-Q1 2010, the majority of jobs lost were middle-wage jobs.

In the recovery, Q1 2010- Q1 2012, the majority of jobs gained were low-paying ones. Low-wage jobs, paying between $7.69 and $13.83 an hour, made up 21% of recession job losses, but 58% of jobs added in the recovery.

Middle-wage jobs, paying between $13.84 and $21.13, comprised 60% of recession job losses, but only 22% of jobs added in recovery. Higher-wage jobs, paying $21.14 to $54.55, accounted for 19% of recession job losses and 20% of jobs gained in the recovery. The chart below shows the growth rate in each category since 2001.

Source: National Employment Law Project

Household Income Declines: As of November 2012, median U.S. household income was $51,310. That’s $3,850 lower than when President Obama took office in January 2009, according to an analysis of census data by economic consulting firm Sentier Research. This chart shows median household income is not only lower than it was four years ago, but lower than when President Bill Clinton left office in 2001.

Source: Sentier Research

Young and Middle-Age Workers Earn Less: Not only has household income decreased, but it has fallen the most among younger and middle-age workers. Median wages for men between 25 and 64 dropped 19% from 1971 to 2011, to $34,000 a year, according to Massachusetts Institute of Technology professor Michael Greenstone. This prevents them from saving enough now for their retirement, setting up a U.S. retirement crisis. Here’s a breakdown:

Food Stamp Use at All-Time High: The number of Americans on food stamps is at an all-time high. That number has increased over 50% in the past four years, going from 31.6 million Americans in December 2008 to 47.7 million as of September 2012.

Source: U.S. Senate Budget Committee

Gas prices have almost doubled: Gas prices have climbed from the national average of $1.78 a gallon in January 2009 to the current average of $3.33. Several times the average price of gas has neared $4 during President Obama’s first term.

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