survey: americans pessimism on economy has grown

[xchrom]

http://hosted.ap.org/dynamic/stories/U/US_AMERICANS_ECONOMIC_OUTLOOK_SURVEY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-08-28-00-02-27


WASHINGTON (AP) -- Americans are more anxious about the economy now than they were right after the Great Recession ended despite stock market gains, falling unemployment and growth moving closer to full health.

Seventy-one percent of Americans say they think the recession exerted a permanent drag on the economy, according to a survey being released Thursday by Rutgers University. By contrast, in November 2009, five months after the recession officially ended, the Rutgers researchers found that only 49 percent thought the downturn would have lasting damage.

And that was when the unemployment rate was 9.9 percent, compared with the current 6.2 percent.

"They're more negative than they were five years ago," said Rutgers public policy professor Carl Van Horn.

[littlemissmartypants]

1. Time to start blaming the real drag: congress. nt

[hobbit709]

2. Starting with that 6.2% all figures are off.

Many people quit looking because there are no jobs. Many are in the underground economy because there are no jobs. Around here most people have barely above minimum wage jobs while rent and other expenses have gone sky high. A REAL living wage would be at least $15/hr and if you make $10/hr you are existing-not living.

[Alkene]

3. Count me in as one of the "anxious"...

..."despite stock market gains, falling unemployment and growth moving closer to full health."

[Laelth]

4. The "new normal" is unpleasant for too many of us.

On the flip side, the stock market is near it's all time high, and our economy is doing great.

Right?



-Laelth

[tridim]

5. Consumer Confidence in U.S. Rises to Almost Seven-Year High

Aug 26,2014

Consumer confidence in the U.S. unexpectedly climbed in August to the highest level in almost seven years, reinforcing signs of a strengthening outlook for the second half of 2014.

The Conference Board’s sentiment gauge rose to 92.4, the highest since October 2007, from a revised 90.3 a month earlier, the New York-based private research group said today. The median forecast in a Bloomberg survey called for a decline to 89.

Americans are finding more reasons to be upbeat about their prospects for the rest of the year as recent reports pointed to a pickup in the job market and stock prices advanced to records. Stronger sentiment will also help underpin consumer spending, which makes up almost 70 percent of the economy.

“Consumer confidence can sustain these high levels and even build on it a little,” Jim O’Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, New York, said before the report. “The key driver is the labor market, and the numbers there have been showing an improvement.”

http://www.bloomberg.com/news/2014-08-26/consumer-confidence-index-in-u-s-increases-to-92-4-in-august.html

Pessimists suck.

[xchrom]

6. but not as bad as Confidence Fairies. nt

[tridim]

7. WTF does that mean?