More Americans are climbing into the upper middle class, reshaping both household finances and the broader economy, The Wall Street Journal writes.
About 31% of U.S. households now fall into this higher-earning tier, up from roughly 10% in 1979, according to new research.
The shift is being driven by rising wages—especially among college-educated, white-collar workers—as well as dual-income households that can pool earnings and build wealth. As incomes rise, so does spending power, fueling demand for premium goods and services, from luxury travel to high-end child care products.
But the gains come with caveats. Many upper-middle-class families still feel financially stretched, citing the rising costs of housing, childcare and higher education. While incomes have grown across all groups, they’ve increased fastest for higher earners, widening gaps even as mobility improves. The result is a more affluent—but also more uneven—middle class, where many feel comfortable, yet far from wealthy.
The Wall Street Journal has the full story.
