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Majority of American population feels that economic growth only benefits rich

A big majority of the population in America is of the belief that the economy the way it is has only been beneficial to the wealthy in spite of the low levels of joblessness and the wages seeing a rise too.

A poll which had been conducted recently has found that as many as 69 % of the Americans have said that the economy is only helping the ones who are already rich and has been hurting those who do not have a college degree and form part of the middle class population.

The responses which had been noted had been different from the different groups of income. Close to 3/4th of the households who believe to the upper income strata feel that the economic conditions currently are extremely good or excellent while there is a majority in the strata of low income earners who feel that the economy is poor or just fair at best.

As per the poll, the economic conditions presently are only helping a certain group as per the public perception and they see that the benefits are going only in one flow which is towards the ones who are the richest.

The responses are an indication that even though there has been an economic expansion that is longer than ever and an unemployment level which is at the lowest it has been for 50 years at 3.5% with the growth of wages being over 3%, a lot of the Americans do not feel that they are getting the benefits as much as the ones who are at the very top.

A major which is being seen for this trend is the gains in the stock markets.

 

Thomas Cramer
Thomas Cramer Author
SENIOR CONTENT WRITER At Market News Magazine

Keenly understanding the world of technology and the capability to play with words, Thomas Cramer holds the position of Senior Content Writer. He writes reports and news of the tech world comprising, but not limited to, launches, upcoming & latest events, updates, releases, and so on in a flabbergasting manner. Being a technology freak, Thomas also puts forth his opinions and reviews about the new devices, gadgets, and other technologies & their implementations. Trekking, hiking, and reading books are a few of the free-time activities of Thomas.

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