Here's a graphic from a Pew survey released today to follow up on my question earlier about why -- if Minnesota now is only 1,000 jobs away from the most its ever had -- doesn't it feel so heady?
It shows that our optimism for our economic future is declining
A year ago, about four-in-ten in all family income groups said they expected the economy to improve over the next year. Today, just 23% of those with incomes of $75,000 or more expect economic conditions to be better a year from now, as do 21% of those with incomes of between $30,000 and $75,000 and 31% of those with family incomes of less than $30,000.
Curiously, a year ago, the level of optimism was the same among all income groups. Now, the survey shows, the most optimistic group are people who make under $30,000 a year. But at the same time, the income group is also the most pessimistic.
And, the survey shows, the one area of economic life that has people most worried: their job.
I'm feeling pretty good about our ecomomic future.
Maybe people need to listen to Warren Buffett more often, He's an optimist.
Of course, he can afford to be,
Just a wild guess, but does MN have more people now than ever before? So the real question is: what percentage of adult Minnesotans have jobs, and what was the percentage before?
Obama throws out these numbers all the time but the fact is more Americans are coming of age than jobs are being created. Job creation can only be measured within the context of how many job seekers you have.
While I think the economy is headed in a generally positive direction, it is without guidance and could easily veer. My perception is that the US government is dysfunctional. Legislators chose to accept a deliberately painful sequester rather than compromise on a budget deal.
Concern about the economy is justified because partisanship has legislators more interested about politics than governing.
The labor force is 70,000 more than in January '08.
I think people are down on the economy because of the government sequester (aka "austerity"). This policy should not have been implemented until the economy was up and running again.
OK, so I believe Krugman. I think he's right - just look to see how austerity has played out in Europe, especially the UK.