The exodus of New York City’s endangered middle class

New York City’s shrinking middle class is now in full retreat, as masses of our most endangered population depart the city in numbers not seen since the Depression, according to analysts. After decades of sharp income erosion in the face of relentless taxes, escalating living costs and wage reductions through technological changes, the full extent of this shocking exodus is laid bare in the latest US Census data. That shows the city is losing 100 residents each day — with departures exceeding new arrivals.

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