Negative Outlook About American Job Market Continues

 

Negative Outlook About American Job Market Continues

Negative Outlook About American Job Market Continues

The unemployment report that is released each month is still one of the most talked about and focused upon pieces of financial data, even among people who aren’t normally concerned with the economy. Many experts and everyday Americans agree that the economy won’t bounce back until the job market has recovered, but this recovery doesn’t seem to be occurring. In a recent Harris Poll of over 3,000 Americans, 73% of survey respondents said that the job market in their area is bad.

Only 23% of respondents think that the job market in their region of the country will improve over the next six months, and 24% think it will get worse. The majority, at 53%, believe that there will be little change in either direction over the next half a year. 43% believe it will take a full year or longer to see improvements. Just 7% think it is currently growing.

Americans aren’t just concerned about the slump in new or more lucrative jobs. Nearly 2 in 5 Americans are worried that their main source of income may be lost over the next six months due to unemployment. This indicates that many companies may still be considering lay-offs, despite what they are reporting to the media. Another third of the popular are not very concerned but feel it is possible, while the last third believe that they won’t become unemployed in the next six months.

Most economic reports are not easily understood by average Americans. Hearing that the gross national product has fallen or that the stock market is taking a hit sounds negative, but it is hard to understand exactly how bad the economy is from those abstract measurements. The employment report is a more concrete, easy to understand way of measuring the economic health of the country for most people. Americans have felt pessimistic about the possibility of the job market recovering for over a year now, and it will take a serious spike in new jobs to reverse their opinions on the topic.


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