Housing affordability, childcare costs, rising energy and transportation prices impact our ability to reach middle class.
convenes to discuss significant issues facing Utah. Recently, the council examined the concept of the middle class in Utah and explored ways to better support it. Below are excerpts from the discussion.A notable concern is the shifting financial reality of the middle class. Historically, families could allocate part of their income to savings and leisure activities. Today,goes towards essentials like rent and food, leaving little room for unexpected expenses.
, which is a substantial financial burden. The historical lack of childcare infrastructure in Utah, rooted in traditional gender roles, exacerbates this issue.The discussion also addressed statistical standards for being cost-burdened. Traditionally, spending more than 30% of income on housing and 15% on transportation indicates a cost burden. This measure should be considered a community standard when discussing middle-class affordability.
Includes professionals, managers, educators, healthcare workers, engineers, IT specialists, skilled tradespeople and more.Includes homeownership, healthcare access, retirement savings, investing in children’s education and enjoying social activities.Values:The Innovation Lab Advisory Council is a diverse group of experts and leaders. Participants included Patrice Arent, a former state legislator; Mallory Bateman, director of demographic research at the Kem C.