Concern About Unemployment Soars

The inability of the government and the economy to create jobs is not lost on most Americans. Nearly 16 million people are still looking for jobs in the US. The number of people who have been unemployed for over six months increases every day. This long-term jobless pool increases burdens on the federal government, families, housing, and creates a group of people with eroding work skills.

A new Gallup Poll shows that the concern about unemployment among Americans has hit a level unsurpassed since the tremendous recession of 1983. The unemployment rate in that downturn was above 10% for a year.

The new research shows that

“Thirty-five percent of Americans name unemployment as the most important problem facing the U.S., the highest percentage since the economic slowdown began and higher than at any point since October 1983 (41%). Unemployment is the most important problem for the second month in a row, with the economy ranking second and healthcare third.”

Concern about the job market undermines both consumer spending and housing demand. The Bush tax cuts were supposed to stimulate spending. That may be offset about the anxiety people have about the work status of themselves, family members, and friends.

The poll results are another example of how Americans currently put their personal well-being over a number of important national issues. Only 11% of those asked said the national deficit is the most pressing issue which America faces. Healthcare scored 16%.

Unemployment will continue to drag the US economy despite optimism among some economists that the recession is over. The recovery is built on very shaky ground as the argument for a jobless recovery losses its power.

Methodology: “Results for this Gallup poll are based on telephone interviews conducted Feb. 2-5, 2011, with a random sample of 1,015 adults, aged 18 and older, living in the continental U.S., selected using random-digit-dial sampling.”

Douglas A. McIntyre