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

Mayoral Candidates Debate on WTAX — And Ask Each Other Questions

3-26-15 Mayoral Debate

Minimum wage, right to work zones, and other questions were posed.

in Local

Springfield Opens New Park

3-26-15 Playground

Children wasted no time Thursday morning running to play in the new "Bounties of Nature" playground at Center Park in Springfield, once it officially opened.

in Local

Legislature Passes Budget Fix, Governor Says He’ll Sign

money pile

The Illinois Legislature has approved a plan ending weeks of negotiations over plugging a $1.6 billion hole in this year's state budget.

in Local

Schock Leaves Congress with “Humility, Sadness”

schock

Congressman Aaron Schock says he is leaving Congress with sadness and humility.

in Local

National Guard Talks More About Guardsman Accused of Terrorism

3-26-15 National Guard

An Illinois National Guard soldier is one of two people arrested for allegedly providing support to ISIS.