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 Local

DeWitt Co. Settlement OK’d in Dispute to Put Toxic Waste Over Aquifer

water

DeWitt county has approved a settlement with a landfill company.

in Local

Kankakee Co. Sheriff Describes Security Lapses that led to Inmate Escape

inmate_exiting_kamron_taylor

Sheriff Tim Bukowski says investigators found no inmate count had been done.

in Local

House Approves Springfield High Speed Rail Oversight Act

high speed rail

An attempt to make sure fair hiring practices are implemented on Springfield's high speed rail 10th street consolidation project is moving forward.

in Local

Rauner Admin. Plans $106 Million in Medicaid Cuts

medicaid

Cuts to Medicaid will make up about one-third of the $300 million in spending reductions by Gov. Bruce Rauner's office

in Local

Butler: Future of $26M in Social Service Funding Unknown

Budget Cuts

State Representative Tim Butler says who knows if that $26 million Governor Bruce Rauner is holding from a number of state social service programs will be restored or not.