![]() ![]() Upper classįamilies with a household income of at least $250,000 per year are generally considered upper class, though that number may vary based on location and household size. 1, 2 Your debt, homeownership, assets, education, occupation, and lifestyle can also complicate the picture. A 2018 study found that nearly 70% of Americans believed they were middle class, when the real number based on income was closer to 52%. The middle class is especially tricky to define because much of it is based on perception, not reality. Your household income, household size, and local cost of living help determine which subgroup you belong to. The middle class is usually divided into three subgroups: lower middle class, middle middle class, and upper middle class. You may just as easily fall into the lower class if an illness or injury forces you into medical bankruptcy. You may qualify as middle class if your job is dangerous but your work is viewed as “skilled,” or if your employment is protected by a union. Whether you’re considered lower or middle class as a working-class person depends on how your labor is perceived in terms of its stability, safety, and skill. ![]() Working-class people are often “last hired, first fired,” which makes it hard to feel confident about affording middle-class luxuries. You may be juggling large amounts of debt. You’re employed, but your job may not be secure. If you’re working class, you walk the line between the lower and middle classes. You may be fully employed, unemployed, or underemployed (meaning you have one or more jobs but don’t make enough to live on), or you may be unable to work due to age and/or disability. You may be getting help from family, friends, charitable organizations, or the government. In the lower class, you don’t have enough income to meet your basic needs. ![]() Words like “lower class,” “poor,” and “poverty” don’t describe the dignity or worth of people experiencing economic hardship. Definitions of socioeconomic class can vary depending on who’s talking about them. Keep in mind that the divisions listed below are written in broad strokes. A fourth category, working class, is also often part of the conversation. In general, the US has three social classes: lower, middle, and upper (or poor, middle-class, and wealthy). Your job’s perceived value and status can affect your class-and a higher level of education can lift you from one socioeconomic class to the next, while student debt may push you lower. ![]() While income is the most important factor in class, your occupation and education play a role too. Of those three factors, income tends to carry the most weight. In the United States, your socioeconomic class (also called your “social class” or “socioeconomic status”) is determined by your income, education, and occupation. But class distinctions are very real in terms of how they affect our life and health. Like other social constructs (including gender and race), it changes over time, culture, and location. Class is a social construct, meaning it’s created and accepted by the people in a society. Socioeconomic class is a way of dividing people into groups based on their social and financial status. Share this article on Facebook Share this article on Twitter Share this article on LinkedIn Share this article on Messenger Share this article in email Copy the link to this article Print this article ![]()
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