Economic Pessimism Rises In Wake Of Friday's Poor Jobs Report

Economic Pessimism Rises In Wake Of Friday's Poor Jobs Report

(Week of 6/2/2012) Americans’ feelings about the country’s economic trajectory have taken a negative turn in the wake of last Friday’s poor jobs report. The percentage thinking that the economy is getting worse jumped nine points between last week’s Economist/YouGov poll and this week’s.

In recent years, relatively few Americans have been positive about the trend of the economy. But over the course of the second half of 2011, the percentage believing the economy was getting worse dropped significantly. Since the beginning of this year, that number has been relatively stable and in the low 30s. Now, after the announcement that the unemployment rate had inched up again and that just 69,000 new jobs had been created in May, the percentage of Americans who think the economy is worsening has risen to 39%.

There are a few pockets of optimism. More than a third of Democrats and close to half of liberals think things are getting better, as do 28% of those with incomes of at least $100,000. But those percentages have also declined in the last week, and increasing numbers now think the opposite.

In fact, when asked whether the worst economic news is "behind us" or "yet to come", a majority think the worst is yet to come.

63% of Democrats remain hopeful that the worst is in the past.

Economist/YouGov poll archives can be found here

Photo source: Press Association


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