The U.S. may be one of the wealthiest countries in the world , but financial inequality prevails within its borders. That divide is growing , especially between the poorest and richest U.S. residents.
The middle class is shrinking. In 2021, just half of adults lived in a middle-income household, a huge drop from 61% in the 70s. This dip meant some middle-class adults broke into the high-income bracket. At the same time, the share of lower-income residents is growing: 29% of adults lived in low-income households in 2021 , compared to 25% in 1971.
Wages over this period grew at all income levels, but the rich got significantly higher bumps. Pew Charitable Trusts found that high incomes grew 69% over the past 50 years, while low incomes grew just 45%. The COVID-19 pandemic exacerbated and further exposed these harsh financial gaps.
The difference in pay for the highest- and lowest-paying jobs in the U.S. last year was over eightfold: from about $28,000 for entertainment attendants to over $251,000 for physicians. Nationally, most of the lowest-paying jobs are in the leisure and accommodation fields: think folks who work in food establishments, at hotels, at recreational facilities like pools and amusement parks, and other service jobs.