Squeezed Middle

Compilers of the Oxford English Dictionary have declared 2011's Word of the Year to be "squeezed middle".
The term was originally coined by Ed Miliband when speaking to BBC Radio 4's Today Programme presenter John Humphrys.
The full OED definition reads: "Squeezed Middle: the section of society regarded as particularly affected by inflation, wage freezes and cuts in public spending during a time of economic difficulty, consisting principally of those on low or middle incomes". independent.

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