A recent CBS News analysis confirms what many people already feel: Today’s economic landscape offers fewer opportunities for the middle class while the wealthy continue to pull ahead.
The findings are the result of a CBS News/YouGov survey of over 2,400 U.S. adults.
According to the poll, respondents say that raising a family, getting a good job and buying a home are all harder to do today. Here’s a closer look at the results.
Homeownership, job security and the wealth gap
The vast majority, 83%, of respondents say that buying a home is harder today than it was for earlier generations.
The poll found that 52% of part- and full-time employed Americans feel somewhat secure in their jobs, and just 28% feel very secure, down from 33% last fall.
And the majority expect it would be tough to find the kind of role they want. That’s only partly due to concerns about artificial intelligence (AI). Of those who think AI will disrupt the labor force, just over 60% believe it will reduce job availability.
To make matters worse, most poll respondents (71%) feel the income gap between the wealthiest and the middle class in America is increasing. They also see opportunities growing for the wealthy while shrinking for the middle class.
What middle-class Americans can do
For those looking to purchase a home, look for both federal and state programs that offer assistance. Get pre-approved for a mortgage before you start shopping so you have an idea of how big of a loan you’ll actually get. And consider broadening your geographic search if remote work is an option.
In the workplace, look to level up your skills that complement rather than compete with AI: critical thinking, complex problem-solving, leadership and anything requiring genuine human judgment or relationship-building. If your current role could theoretically be automated, consider what might make you harder to replace or more valuable in your industry.
Networking also matters more than ever when job markets tighten. Stay connected with former colleagues.
For building wealth, the stock market remains one of the great equalizers. The poll hints at this. People whose finances are more connected to the market report better overall finances. You can even start with small automatic investments in low-cost index funds, for example.
The key is starting and staying consistent.
Protect the basics first
The poll reveals a clear divide in how Americans are approaching spending. Those at lower income levels report cutting back and struggling. Higher earners, meanwhile, say they’ll maintain their current spending pace.
If you’re feeling the squeeze, focus on insulating yourself from financial shocks before worrying about wealth building. Learn about assistance programs for utilities, food and health care in your area. Many programs go unused simply because people don’t know they qualify.
The challenges are real for middle-class Americans trying to get ahead. But the poll also shows that views on rising prices aren’t as widespread as they were last fall, suggesting some of the public is starting to see inflation stabilizing.
In the meantime, build skills, maintain financial flexibility and stay informed about available programs.