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 Sports

Rangers replace Maple Leafs atop hockey’s most valuable list


The Rangers, who return to the top of the rankings for the first time since 2004, were valued at $1.2 billion

in Black Friday, National

Thanksgiving getaway: Cheap gas but fears of terrorism


That other Thanksgiving tradition — congested highways and jammed airports — is underway with gas prices low and terrorism fears high.

in National

2015 to be the hottest year in history


This year will be the hottest on record and 2016 could be hotter due to the El Niño weather pattern, the World Meteorological Organization said.

in National, World

Many House Republicans want refugee restrictions in spending bill


Nearly one-third of the Republicans in the House of Representatives signed a letter calling on party leaders to ensure that a must-pass spending bill block any use of federal funding to resettle refugees from Syria and nearby countries.

in Sports

Rams’ Bailey in critical condition after shooting


The suspended Rams wide receiver was shot during an incident late Tuesday night.