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| [PHOTO: © BDTV] |
Washington: Most of the Americans believe that having a secure job is by far the most important requirement for being in the middle class,easily trumping homeownership and a college education, according to a new nationwide Pew Research Center survey of 2,508 adults.
Nearly nine-in-ten adults (86%) say a person needs a secure job to be considered part of the middle class, while just 45% say the same about owning a home, 37% about a college education and 28% about financial investments.
Of the five items tested in the survey question, the only other one seen as essential to a middle-class lifestyle by a majority of the public is health insurance—which for many Americans comes through one’s job. Two-thirds of adults say it’s an essential ticket to a middle-class life.
The public’s view about what it takes to be in the middle class appears to have changed dramatically over the past two decades. In a 1991 nationwide Time/CNN/Yankelovich survey, seven-in-ten respondents said homeownership was essential to being in the middle class, while just one-third said the same about having “a white collar job.”
Some of the sharp differences between the public’s responses in 2012 and 1991 are likely the result of wording differences between the two surveys: “a white collar job” (the wording used in the 1991 survey) is arguably a less inclusive and compelling a choice than “a secure job” (the wording used in the 2012 survey).
But some of the variance may also reflect the persistently high unemployment rates of the past four years as well as a longer-term decline in the share of the working-age public that is employed.
The decline began during a shallow recession in the early 2000s and then accelerated with the Great Recession of December 2007-June 2009 and the sluggish recovery since.
From 2006 to 2011, the share of Americans ages 16 to 64 who are employed dropped from 72% to 67%, the steepest five-year decline since 1948, the first year for which employment data are available from the U.S. Bureau of Labor Statistics (BLS).
Over the past 60 years, the trend lines for men and women on these employment measures could hardly be more different.
The employment rate for men ages 16 to 64 was nearly 90% at the beginning of the 1950s and has since dropped to 71% in 2010-11, its lowest rate in modern times.