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 Entertainment

WHAT’S ON: New on Netflix, Amazon & Hulu in September

netflix

September is shaping up to be a good month for streaming some hit movies and the TV series you've been meaning to check out.

in Entertainment

William Shatner working on Leonard Nimoy book

nimoy

"Leonard: A 50 Year Friendship" will hit the shelves next year.

in Entertainment, Sports

Hulk Hogan begs forgiveness, wants back in WWE

22-overlay16

The wrestling icon is pleading with fans for their forgiveness after he was caught on tape using a racial slur, insisting the controversial comments were made at the "lowest point" of his life.