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If the economy seems like it's running on idle, maybe that's because consumers feel the same way. In fact, our June 21 Reader Survey seemed to find readers in a darker mood than when we asked a number of the same questions on Apr. 17.
Of the 1,000-plus readers who responded to the latest survey -- which isn't a scientific poll, since anyone who wishes to can participate -- nearly 52% said they're doing O.K. financially, vs. 49.5% back in April.
From there, though, the news gets worse. Some 27% of those who answered the June survey said they're in distress financially, vs. only 15% in April. Perhaps that's because 65% said they don't expect a pay raise this year, vs. 50% who had that expectation in April.
The percentage of people who feel that their jobs are "very secure" also fell -- to 20% in the latest survey, from 42% in the earlier one. Some 36% think the economy will be on the way to recovery six months from now -- but that's down from 53% who felt that way in April. Some 45% of those who responded to the June survey think the economy will still be struggling six months from now, vs. the 31% who felt that way in April.
Nearly 60% said they're less optimistic about their financial situation than they were six months ago, though 17% are more optimistic, and 21% are as optimistic.
Here are the detailed results:
How are you doing financially?
Option
Total
%
I'm in distress
273
26.61 %
I'm O.K., assuming no sudden reduction in income
532
51.85 %
I'm in good shape, with plenty of cushion
181
17.64 %
Not sure
40
3.90 %
Do you expect to receive a pay raise this year?
Option
Total
%
Yes
236
23.09 %
No
664
64.97 %
Not sure
122
11.94 %
How secure is your job?
Option
Total
%
Very secure
201
19.78 %
Somewhat secure
323
31.79 %
Somewhat insecure
156
15.35 %
Very insecure
97
9.55 %
I'm unemployed
198
19.49 %
Not sure
41
4.04 %
Six months from now, where do you think the economy will be?
Option
Total
%
Fully recovered
39
3.79 %
On the way to recovery
374
36.31 %
Struggling
465
45.15 %
Worse than it is now
100
9.71 %
Not sure
52
5.05 %
On balance, are you more optimistic -- or less -- about your individual financial situation than you were six months ago?
Option
Total
%
More
173
16.78 %
Less
615
59.65 %
No change
215
20.85 %
Not sure
28
2.72 %
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Copyright 2002 , by The McGraw-Hill Companies Inc. All rights reserved.
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