Middle Muddle
Seems statistics are showing what we in the middle class have known since 2008. Less money is available to eat out, buy appliances, and start new businesses. Articles in both the NYT and USA TODAY* report that spending at mid-range restaurants, ala Red Lobster, is down -- but upscale eateries are enjoying growth. Same goes for sales of basic vs. high end refrigerators.
Start-ups are almost flat since 2010; factors cited include skittish banks, decline of home equity values, and the aging population (the 30s are prime business-founding years).
At the same time, a CEB Succession Management survey said 88% of leaders and managers report increased job responsibilities over the last three years.
Yikes!
*The Middle Class is Steadily Eroding. Just Ask the Business World -- By Nelson D. Schwartz; NYT 2/3/14
Start-ups still in a slowdown -- by Paul Davidson; USA TODAY 2/3/14
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