Gallup: 'Worries About Job Cutbacks Return to Record Highs'

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Gallup has released the new polling data today that shows nearly a third of all Americans are worried about losing their jobs.   Americans were this worried about job stability two years ago, but concern dropped 5 points last year, according to Gallup.  Even more Americans are concerned that they will lose benefits and/or pay:

More from the report:

With the U.S. unemployment rate running 50% higher than it was in 2008 (approximately 9% today vs. 6% then), American workers are again expressing record- or near-record-high levels of concern about the stability of their jobs and income. This reverses the slight improvement seen a year ago, when U.S. workers' concerns about losing a job, pay, or benefits had abated slightly. The rates of concern are even higher among workers who are the most vulnerable to financial setback -- those with low to moderate incomes.

Together, the findings document the ongoing psychological impact of the country's economic problems on many working Americans and how fragile the economic recovery is in their eyes. When workers are worried about their jobs and their income more broadly, this is likely to affect broader economic confidence, the housing market, and consumer spending.

Read the full report here.


Posted 08-31-2011 12:02 PM by Graham Griffith
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