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

U.S. Attorney James Lewis: Racially Biased?

courthouse

Questions have been raised about possible racial bias on behalf of U.S. Attorney James Lewis.

in Local

Cattle Rustling: 18-year-old Gets 180 Days In Jail

gavel2

18-Year-Old gets 180 days in jail for taking part in cattle rustling.

in Local

Cuba Relations: Could Be Boon For Illinois Farmers

farm

A relationship with Cuba could mean up to $7 million more a year for Illinois Farmers.

in Local

Prison Lockdown: Chicken Pox To Blame

jail

Chicken Pox has locked down Illinois prisons.

in Local

Illinois Tollway Expects Spike in Holiday Traffic

IL Tollways

Free coffee will also be available at tollway oases.