A mere 17% of Americans believe that their overall financial situation is better now than it was a year ago. Only 19% say their net worth is higher today than it was 12 months ago. Just 11% are more comfortable with their savings.These are just a few of the results from a recent surveyconducted by Bankrate, Inc. (NYSE: RATE). The only surprise in the survey may be that 75% of Americans feel as or more secure about their jobs than they did a year ago. But the pre-holiday layoff season is now upon us and recent job cut announcements might have changed that survey outcome if the survey were to be conducted at the end of this month.Feelings of financial security depend on a growing economy, a robust housing market, and some stability in the equity markets. All have gone missing, and until they return in force, Americans will continue to feel less secure.

Most recent projections for US economic growth are at or below 2%, a level that barely indicates a pulse. There have been some signs of improvement in the housing market, but lower home prices have taken their toll on consumers’ psyches. Stocks had a very good month (so far) in October, but there is little reason to believe that volatility will subside soon.

The job security felt by 75% of Americans is very likely the result of having a job at all. As a measure of the US economy, that’s damning with faint praise.

Paul Ausick