Image by LividFiction via Flickr
Here’s another grim report on what’s happening to the middle class in the U.S. — sliding beneath the waves.
From the New York Post:
She’s $16,000 in debt to credit card companies. One of her local grocers, who once let her buy food on a running tab, now has a bill collector after her. She has her résumé up online, but when headhunters call and ask her age, “suddenly they never call me back,” she says. “I’m depressed. None of my friends are able to find jobs. I am living day-to-day.”
Anne’s biggest fear is that her daughter finds out how dire the situation is.
“She’ll say to me, ‘Are we poor?’ And I keep lying,” Anne says. “I think it’s a very traumatic thing for a child. I don’t want her to feel like she’s the only one, or a victim.”
When the recession does ease up, Anne fears that she will emerge as a permanent member of the lower class.
“The world kind of betrayed us,” she says. “The salary I was making — I don’t think I’ll ever make it again.”
There are several women like Anne in my book,”Malled: My Unintentional Career in Retail” (Portfolio/Penguin), now gone to press, which looks at the single largest source of new jobs in the United States — retail. Most of those jobs pay $7-12 an hour, poverty level wages. No commission, no bonuses, no raises. A dead-end job for a whole new set of workers, people who once believed they had vocational choices.
The American Dream of upward mobility is dead, if not dying, for millions of educated, hard-working people, many of them workers over the age of 40, most certainly those over 50. People who have kids or grandkids who need their financial help to complete their college educations.
Who’s got an extra$20,000 to $30,000+ to head back to school full-time to get a shiny new career and start all over again at…55? 60? 47?
That’s not how it’s supposed to work. By your 40s or 50s, life, as it once was for many of us, was supposed to be a little calmer — your home bought and maybe paid off; your kids launched into financial independence, retirement a mere decade or so away.
No longer. Millions of us have lost good jobs, can’t even get an interview for the next one, can no longer imagine when or how things might ever get better, when we might feel safe or calm or happy about our economic situation.
Are you feeling financially secure these days?
If not, what would it take to get you there?