Friday, December 11, 2015

US: Less than half are Middle Class

Less than half of them are now Middle Class (i.e, household income between 42k to 126k) Do we have the equivalent data for SG available publicly? I wouldn't be surprised if we don't.

Incomes across the board has been rising over the years but the upper income boats are lifted higher than the lower income (47% vs 28%) Educational status matter with those in the upper income group mostly with advanced degrees. No wonder Americans are competing tooth and nail like never before to get into the best colleges.

My guess is the experience of the US is mirrored here as well. Over there the Blacks and Hispanics are doing less well. Over here it is the Malays. Such trends must not be allowed to become entrenched but they already are. The question is to what degree it has entered the public consciousness.

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