“The 20 US cities where the middle class is shrinking fastest: A report by WGN Radio – Chicago”

In a recent study conducted by WGN Radio in Chicago, it has been revealed that the middle class in the United States is shrinking at an alarming rate in certain cities. The study analyzed data from the past decade to determine which cities are experiencing the fastest decline in middle-class populations.

According to the findings, the top 20 cities where the middle class is shrinking the fastest include major metropolitan areas such as New York City, Los Angeles, and Chicago. These cities have seen a significant decrease in the number of households earning between $35,000 and $100,000 annually.

Factors contributing to the decline of the middle class in these cities include rising housing costs, stagnant wages, and an increase in the cost of living. As a result, many middle-class families are struggling to make ends meet and are being pushed out of these urban areas.

Experts warn that the shrinking middle class in these cities could have serious economic implications, as a strong middle class is essential for a healthy economy. Without a thriving middle class, cities may face increased poverty rates, decreased consumer spending, and a widening wealth gap.

As policymakers and city officials grapple with the challenge of addressing the decline of the middle class, it is clear that urgent action is needed to ensure that all residents have access to affordable housing, good-paying jobs, and a high quality of life. Failure to address these issues could have far-reaching consequences for the future of these cities and the country as a whole.