Working Class

AAA

DEFINITION of 'Working Class'

A socioeconomic term used to describe persons in a social class marked by jobs that provide low pay, require limited skill and/or physical labor, and have reduced education requirements. Unemployed persons or those supported by a social welfare program are often included in this group.

INVESTOPEDIA EXPLAINS 'Working Class'

While "working class" is typically associated with manual labor and limited education, blue collar workers are vital to every economy. Karl Marx described the working class as the "proletariat", and that it was the working class who ultimately created the goods and provided the services that created a society's wealth.

RELATED TERMS
  1. Upper Class

    A socioeconomic term used to describe individuals who reside ...
  2. Grunt Work

    An expression used to describe thankless and menial work. Grunt ...
  3. Welfare

    A government program which provides financial aid to individuals ...
  4. Misery Index

    A measure of economic well-being for a specified economy, computed ...
  5. Blue Collar

    A working-class person historically defined by hourly rates of ...
  6. White Collar

    A working class that is known for earning high average salaries ...
Related Articles
  1. Economics

    The Economics Of Labor Mobility

    Loosening labor restrictions has both good and bad effects for a country and its workers.
  2. Insurance

    Investing In Your Child's Education

    Overwhelmed by increasing tuition costs for your kids? The U.S. government can help.
  3. Personal Finance

    Are We Losing The Middle Class?

    Find out where your income and lifestyle put you compared to the national average.
  4. Options & Futures

    Financial Capitalism Opens Doors To Personal Fortune

    The Industrial Revolution introduced a new age of investing and financial self sufficiency.
  5. Economics

    Where is cost of living lowest in the world?

    Learn how the cost of living is the lowest in India based on numbers derived from the CPI and organizations like Expatistan and Numbeo.
  6. Economics

    What's the difference between a market economy and a command economy?

    Set by supply and demand, a market economy operates through a price system; in a command economy, governments control the resources and determine activity.
  7. Economics

    Economics Basics

    Learn economics principles such as the relationship of supply and demand, elasticity, utility, and more!
  8. Investing

    Opportunity Cost

    Every action has a cost, even the ones you don't pursue. Find out how this is calculated.
  9. Fundamental Analysis

    How Influential Economists Changed Our History

    Find out how these five groundbreaking thinkers laid our financial foundations.
  10. Economics

    How Fannie Mae And Freddie Mac Were Saved

    These mortgage giants had to be put under government conservatorship, driving home the gravity of the subprime crisis.

You May Also Like

Hot Definitions
  1. Santa Claus Rally

    A surge in the price of stocks that often occurs in the week between Christmas and New Year's Day. There are numerous explanations ...
  2. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  3. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  4. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  5. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  6. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
Trading Center