Americans came to believe two things about jobs as the recession stretched on. The first is that paid work is precious and it is unwise to press for raises when companies are watching costs. This, among other reasons, has helped to keep wages flat as the cost of living has risen, even if it has risen only slightly. The other is that good jobs are hard to find because companies have cut work forces to the bone and use temporary workers when they can to accommodate increases in business activity. With these two things taken together, the hope of finding a better job has been beaten out of many workers.
The perception of the jobs market has begun to change, perhaps because hiring and economic activity are on the rise. The economy has added more than 200,000 jobs for each of the past five months. A new poll from Gallup shows that:
Americans’ assessments of the job market improved markedly in March with 19% saying now is a “good time” to find a quality job, up from 13% in February — and the highest level of optimism since September 2008. Although 78% still say it is a “bad time” to find a quality job, this is the lowest rating since September 2008.
These figures are an indication that many Americans, who believed that the recession continued to last after economists said it ended, now believe the economy has started to mend. If optimism fuels optimism, these same Americans may be more likely to become consumers again, which would tend to help the economy to create even more jobs. Employers might even find enough demand for their goods and services that they will start to raise wages to retain their best workers.
The Gallup poll is another indication that the cycle of economic repair has begun in earnest and that soon a majority of Americans will believe that the recovery is real and sustainable.
Methodology: Results for this Gallup poll are based on telephone interviews conducted March 8 to 11, 2012, with a random sample of 1,024 adults, aged 18 and older, living in all 50 U.S. states and the District of Columbia.
Douglas A. McIntyre
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