The Middle Class Is Steadily Eroding. Just Ask the Business World. – The New York Times

The post-recession reality is that the customer base for businesses that appeal to the middle class is shrinking as the top tier pulls even further away.

In 2012, the top 5 percent of earners were responsible for 38 percent of domestic consumption, up from 28 percent in 1995, the researchers found.

Since 2009, the year the recession ended, inflation-adjusted spending by this top echelon has risen 17 percent, compared with just 1 percent among the bottom 95 percent.

Source: The Middle Class Is Steadily Eroding. Just Ask the Business World. – The New York Times