As a domain expert in social economics and stratification, I can provide some insights into the concept of the upper middle class and how it is often defined and measured. The term "upper middle class" is somewhat fluid and can vary by country, region, and time period. It generally refers to a segment of the population that is above the middle class but below the wealthiest class, often characterized by a certain level of income, education, and social status.

The percentage of the population that constitutes the upper middle class can be influenced by various factors, including economic growth, income distribution, and changes in the cost of living. It's important to note that the definition and the percentage can differ significantly from one source to another, and the figures can change over time.

According to the Urban Institute report you mentioned, which seems to focus on the United States, the upper middle class was defined as households with an income between $100,000 and $350,000 for a three-person family as of 2014. This group constituted 29.4% of the population, which is a substantial increase from the 12.9% reported in 1979. This growth indicates a shift in the economic structure and a potential increase in income inequality.

It's also worth noting that the report mentions the rich, which is defined as a smaller percentage of the population with a higher income bracket, expanding their ranks to 1.8% from 0.1%. This suggests that while the upper middle class is growing, there is also a notable increase in the proportion of the extremely wealthy.

When considering the percentage of the upper middle class, it's crucial to look at the context in which these figures are presented. The income brackets used to define the upper middle class can vary, and so can the methodology for calculating these percentages. For instance, some reports might use median income, while others might use mean income, and still, others might consider factors like net worth or educational attainment.

Moreover, the economic landscape has continued to evolve since the report's data from 2014. Factors such as inflation, changes in tax policy, and shifts in the job market can all impact the income distribution and the percentage of the population that falls into the upper middle class.

In conclusion, the percentage of the upper middle class is not a static figure and is subject to change based on a variety of economic and social factors. It's essential to consider the specific criteria and context used when discussing these percentages to have a more accurate understanding of the socioeconomic structure.

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The upper middle class grew to 29.4% of the population in 2014, up from 12.9% in 1979, according to a new Urban Institute report. It defines this group as having household income of between $100,000 and $350,000 for a three-person family. The rich also expanded their ranks, to 1.8%, up from 0.1%.Jun 21, 2016read more >>