The Plight Of The Middle Class In The Post-Recession Job Market

Source: Diane Rehm Show, May 1, 2014
(audio)

The U.S. middle class is no longer the world’s richest. Recent analysis shows that while wealthy Americans still outpace their peers in other advanced countries, our middle class is falling behind. That news comes at a time when nearly 40 percent of our nation’s unemployed have been out of work for six months or more. And a federal minimum wage law — which many say would indirectly benefit higher wage earners — has stalled. Some economists believe once the U.S. economy takes off again, the middle class will make a recovery. But others are not as optimistic. Diane and her guests discuss the plight of the middle class in a post-recession job market.

Guests:
∙ Annie Lowrey – economic policy reporter, The New York Times.
∙ David Wessel – director, Hutchins Center on Fiscal & Monetary Policy at the Brookings Institution; contributing correspondent, The Wall Street Journal; author of “Red Ink: Inside the High-Stakes Politics of the Federal Budget.”
∙ Jeff Faux – founding president and distinguished fellow at the Economic Policy Institute; author of “The Servant Economy.”
∙ Stephen Moore – chief economist, The Heritage Foundation.