Pleased to share our latest @WorldBank Policy Research Working Paper, "Growing Vulnerability: What Happened to Europe’s Middle Class in the Course of a Decade?" written along with @MaurizioBussolo, @JonathanKarver, Michael Lokshin, and @ivantorrewb, which takes a vulnerability-based approach to examining the evolution of Europe’s middle class between 2005–08 and 2015–18. Key findings: - The income level needed to avoid poverty—defined as the vulnerability threshold—rose in real terms, contributing to a shrinking middle class in many European countries. - The composition of the middle class shifted, with a higher share of tertiary-educated household heads and those in managerial or professional roles. - Households not yet middle class found it harder to move up, highlighting increasing barriers to upward mobility. This analysis sheds light on the growing challenges faced by middle-class households and the rising vulnerability in Europe. Read our full paper here: bit.ly/3Cgd4O7