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

Tom Cruise’s ‘Rogue Nation’ dominates weekend box office

20-overlay

It's the third largest movie opening for Cruise, following the $64.9 million launch for 2004's "War of the Worlds" and $57.8 million for 2000's "Mission: Impossible 2."

in Trending, Viral Videos

TODAY’S MUST SEE: Ice T voices ‘Care Bears,’ ‘Dora the Explorer’

25-overlay

The rapper and "Law & Order: SVU" star used to do voice work for children's cartoons.

in Viral Videos

Epic Pomeranian puppy sneeze

14-overlay2

There are worse ways you could spend a few seconds of your day.

in Music

Lynn Anderson dead at 67

Updated
14-overlay1

The Grammy-winning "Rose Garden" hitmaker is considered a pioneer for women in the genre.

in Music

WATCH: Dolly Parton returns to Music City

24-overlay

After a 12 year absence, the country legend returned to the Ryman Auditorium in Nashville Tennessee.