👉 The term "middleclass" is a concept in the context of economic analysis and policy making. It refers to individuals who earn a living wage, or income that meets their basic needs for food, housing, healthcare, and other necessities. The middle class is characterized by having some degree of income but not enough to meet all their basic needs. In the United States, the term "middleclass" has been used historically to refer to those earning between $50,000 and $1
