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The financial crisis and subsequent recession hasn't just chipped away at Americans' net worth. A new Pew poll shows it has affected their economic self-image as well -- 32% of all adults now consider themselves lower class, up from 25% in 2008.
Not only has the lower class grown, but its demographic profile also has shifted. People younger than 30 are disproportionately swelling the ranks of the self-defined lower classes. The shares of Hispanics and whites who place themselves in the lower class also are growing.
Specifically, 39% of 18 to 29 year-olds and 40% of Hispanics consider themselves lower class, increases of 14 and 10 percentage points, respectively, since 2008. Three-quarters of the lower class think "it’s harder now to get ahead than it was 10 years ago".
In that gloomy sense, America's burgeoning lower class has something in common with its shrinking middle class. An earlier Pew survey found "85% of self-described middle-class adults say it is more difficult now than it was a decade ago for middle-class people to maintain their standard of living".