News

Survey: Americans’ pessimism on economy has grown

Survey: Americans’ pessimism on economy has grown

CONSUMER CONFIDENCE: Seventy-one percent of Americans surveyed say the recession put a permanent drag on the economy. Photo: Associated Press

WASHINGTON (AP) — Despite many signs of a business recovery including improved hiring, Americans are more worried about the economy than they were right after the Great Recession.

A survey released by researchers at Rutgers University says that this pessimism exists despite record Wall Street gains and a host of upbeat economic indicators.

Seventy-one percent of Americans surveyed say the recession put a permanent drag on the economy. In contrast, Rutgers researchers found in a similar survey in November 2009 that only 49 percent thought the downturn would have lasting damage.

That earlier 2009 survey was conducted five months after the recession officially ended.

And when the 2009 survey was undertaken, national joblessness was at 9.9 percent of the labor force, compared to the current 6.2 percent.

The survey says people’s confidence in the economy has been eroded by the slow pace of improvement during the recovery.

Recent Headlines

in Viral Videos

School announces snow day with ‘Let It Go’ parody

Fresh
22-overlay5

Who needs robocalls when you can declare school closures through song?

in National

Blizzard hits the northeast, New York spared its brunt

Fresh
A man walks out of an ocean front house covered in ice during a winter blizzard in Marshfield, Massachusetts January 27, 2015.

As New York and New Jersey lifted travel bans, Massachusetts braces for more snow.

in Lifestyle

Drunk driving less likely in cities with Uber ride services

Fresh
Uber West Coast Regional Manager William Barnes sits in the back of a car during a photo shoot Friday, Oct. 24, 2014, in Las Vegas. The ride sharing company has begun operations in Nevada.

Mothers Against Drunk Driving works with Uber to establish ride service rights in cities around the world.