On Monday, New York City Council Speaker Christine Quinn unveiled her plans for the city and its middle class. Her office also released a report that detailed the "Middle Class Squeeze." Basically, if you're a New Yorker and you aren't filthy rich, it's about to be a wrap for you.
According to the Council, "middle class" refers to households who pull in between $66,400 and $199,200 annually. Lower middle class is $53,140 and $66,400, and anything below $53,140 is considered low income. New York's middle class expanded by 129,000 adults between 1989 and 2012, but the median income for the middle class has fallen since 2001.
If you examine these six charts above which break down median income, unemployment rates, education levels and housing costs, it doesn't look too good for NYC's middle class. Our solution? Keep thuggin'. In the immortal words of DMX, "To live is to suffer. But to survive, well, that's to find the meaning in the suffering."
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