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.

Local Headlines

in Local

Wind Farm Purchased

wind turbine

A Duluth, Minnesota-based energy firm says it has bought a wind farm near Storm Lake...

in Local

Simonsen Iron Works Receives State Loan

cash1240

The $3 million project is anticipated to create 28 jobs...

in Local

Spencer Native On Television

clark

Robert Clark has been hired as a full time News Reporter for KEYC TV of Mankato...

in Local

Okoboji Man Arrested On Drug Related Warrant

lawenforcement1240

18-year old Holden Wilson was arrestedon an arrest warrant for Drug Distribution to a person under Eighteen...

in Local

Man Gets Unruly Following Accident

News Arrest1240 1

-An unruly man faces a number of charges following an OWI accident...