here is the problem. Look at the statistics at the bottom of the page. The south is insulated a little from this wage deflation trend. This uncertainty casts a pall on the economy and its more of the same next year. The root cause is globalization which is going to be a difficult issue to address, and there may be no good solution but Bush IGNORES it at his own peril (its too late for Bush to do anything anyway)
The Economy as Viewed From Main Street: No Recovery Yet, New Zogby Poll Reveals One in five has fears of losing job in the coming year; Same number earning less than previous job
The optimism of a rebounding economy hasn’t yet trickled down to Main Street, USA, where 20% still say they are afraid they or someone in their immediate family will lose a job within the next year. And 21% say they are working at a job that pays less than an immediate previous job.
The telephone poll of 1,001 likely voters nationwide was conducted November 17-19, 2003 by Zogby International. The margin of error for the Zogby America poll is +/- 3.2 percentage points, and margins are higher in sub-groups.
In a Clinton-era June 1999 Zogby poll, just one in ten (10%) feared losing a job in the coming year, and the same number said they were working at a job paying less than an immediate previous job.
Earlier this summer, 22% feared losing a job within the next year, and 19% said they were working for less than before. The June 6, 2003 poll by Zogby International interviewed 1,012 likely voters nationwide.
In the most recent polling, slightly more (24%) of people in the West feared losing their job than those in the South (18%), East (19%), and Central-Great Lakes area (21%). High school graduates were more confident of not losing their job within the year (85%), compared to just over three in four of those with less than a high school education (78%), respondents with some college education (78%) and those with a college or advanced degree (79%).
The more they make, the more they fear losing their job
One-fourth (25%) of those with annual household income of $75,000 or more fear losing their job within the next year, as do 22% of those in the $50-75K range. Just over one in five (21%) of those earning $25 –50K fear a job loss in the future, as do 17% of those earning $25K or less.
By comparison, in June 1999, 15% of those earning $75K or more feared a job loss in the coming year, as did 11% of those in the $50-75K bracket, and 8% of those earning $35-50K. One in eight (12%) of those making $25-35K felt the same fear, as did 11% of those making less than $15K. Only one in twenty (5%) of those in the $15-25K range feared a job loss.
In the November 2003 polling, higher income earners tend to enjoy more stability by not working in a job that pays less than the previous one. One in seven (15%) of those earning $75K+ now earn less than before, compared to 24% of those in the $50-75K range, and 21% of those earning $35-50K. One in four (25%) of those in the $15-35K range now earn less than at their previous job, as do one-third (33%) of those making less than $15K.
More than one in four (26%) large city dwellers fear an impending job loss, as do 23% of those who live in the suburbs. Fewer small city and rural residents (16% each) fear a job loss in the coming year.
Pollster John Zogby: “How Main Street views the economy will be as significant as the view from Wall Street in 2004. While previous structural recessions in 1982 and 1990-91 provided bad news for manufacturers and blue-collar workers, today’s slowdown means worries have spread to white-collar workers, including higher-end workers. Look for these tracking numbers as both parties vie for votes in the suburbs and among knowledge workers.”
Likely US voters ages 18+
Nov 03 Oct 03 Sept 03 June 03 June 99
Lost job in past year
16% 17% 16% 14% 11%
Fear losing job this year
20 23 21 22 10
Working for less than previous job
21 20 18 19 10
zogby.com |
