Small-business owners, traditionally an uber-optimistic group, are becoming increasingly pessimistic, says MerchantCircle.com, an online network of 1.2 million businesses.
More than 6 out of 10 (61%) now say the worst effects of the recession (officially 2007-2009) are not behind us, according to a survey of 6,000 business owners across the nation. That’s up from 41% in January, 2011.
Such pessimism may help explain the weak jobs report for June from the Bureau of Labor Statistics, in which U.S. employers added 80,000 jobs. The country averaged 75,000 new workers a month over the last three months compared to 226,000 a month in the first quarter. The nation needs to create at least 125,000 jobs monthly just to keep up with population growth.
MerchantCircle adds that 60% of small-business owners say the economy is the top issue facing the U.S. today, followed by 41% who say jobs are the top issue.
Small business owners are in line with other Americans on that issue, according to other polls.
Source: Gallup Daily Tracking
Americans’ confidence in the economy slipped to a -22 in the July 3 Gallup Economic Confidence Index, compared to -17 in May. Their rating for current economic conditions was -26 and for economic outlook was -18. In other words, gloomy.
Gallup said in June that almost three-fourths of Americans rate various aspects of the economy as the top U.S. issue:
- 31% the economy in general
- 25% unemployment
- 11% federal budget deficit
- 5% lack of money
The newest Rasmussen Report, which surveys likely voters, says 74% of Americans identify the economy as very important to how they will vote in November.
Gallup says, “The state of the economy is undoubtedly a factor in Americans’ generally sour mood…The economy and unemployment have ranked first and second on the most important problem list each month since December 2009.”
What do you think?
What is U.S. most important problem?
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