Unemployment Becomes Top Worry Among Americans

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By Douglas A. McIntyre Published
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Despite an improvement in the nation’s jobless rate, concern about unemployment has become the top worry among Americans. The news comes as the ranks of the long-term unemployed remain historically high, and people continue to move out of the job market completely. At 6.6% , the jobless rate remains far above the normal 5%, which signals a complete post-recession employment recovery.

According to new Gallup data on the “most important” U.S. problems:

Americans have a new No. 1 problem. Nearly one in four Americans (23%) mention jobs and unemployment as the most important problem facing the country, up from 16% in January. The government and politicians had topped the list since the government shutdown in October.

Well down Gallup’s list of problems were the “general economy” at 20%, “dissatisfaction with government” at 19%, the “high cost of healthcare” at 15% and the “federal deficit” at 8%. The worries about trouble with Obamacare sign-ups have apparently receded. And, as the congressional battle over the deficit is months beyond its peak, worry about it has fallen off as well.

The number of people “satisfied with the way things are going” may be the best measure of how Americans view their current circumstances. According to Gallup’s analysis:

Twenty-two percent of Americans are satisfied with the way things are going in the U.S., similar to the 23% found in December and January. This is up from the 12-month low of 16% in October during the government shutdown but is similar to the low numbers found in many other months last year. The all-time high on this measure in Gallup’s history was 60% in March 2003, while the low point was 7% in October 2008.

The recovery from this sentiment has not progressed as much from the recession as might be expected.

Gallup researchers’ conclusion:

Now that the shutdown is over and the government has successfully passed a budget and avoided another debt ceiling shutdown, Americans appear to have shifted their focus away from the government and back to the still relatively weak job market.

However, as the study shows, sentiment can shift rapidly. Unemployment may only stay at the top of the list until there is another threat of a government shutdown or a brutal battle over the budget.

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Methodology: Results for this Gallup poll are based on telephone interviews conducted Feb. 6 to 9, 2014, on the Gallup Daily tracking survey, with a random sample of 1,023 adults, aged 18 and older, living in all 50 U.S. states and the District of Columbia.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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