Attitudes on Economy remain Bleak.

As the drumbeat of bad economic news continues, Americans’ feelings on the economy remain pessimistic. Specific results from a new Harris Poll of 1,329 U.S. adults surveyed online between July 3 and 11, 2008 by Harris Interactive show:

* Seven in ten Americans (71%) rate the economic policies of the national government as bad while 13 percent rate them as good. Looking to last month, these numbers are unchanged, so nothing the government is saying or doing is having an impact on the minds of Americans;

* Compared to a year ago, almost half of U.S. adults (48%) say their household’s financial condition has worsened while three in ten (31%) say it has improved and just over one in five (22%) say it has remained the same. This is slightly worse than last month when one-third (34%) said their household’s financial condition had improved compared to a year ago while just under half (47%) said it had worsened;

* Looking ahead six months, optimism about the future is also low as two in five Americans (39%) believe their household’s financial situation will be worse compared to 36 percent who say it will be better. One-quarter of Americans (25%) believe their situation will remain the same. In June, two in five Americans (40%) felt it would get better and 36 percent believed it would get worse; and,
* When it comes to jobs, half of Americans (51%) say the job market in their region of the country is bad while just three in ten (30%) say that it is good and one in five (19%) believe it is neither good nor bad. One month ago, just over half (53%) of Americans believed the job market in their region was bad and 28 percent believed it was good.

Does Region Matter?

Different regions of the country are feeling different impacts of the current economic conditions:

* Easterners are more likely to say the economic policies of the government are bad (76%) and more likely to say their financial situation will be worse six months from now (46%). However, they are also more likely to say their financial situation has improved since last year (34%);

* Southerners are more likely to say the economic policies of the government are good (16%), the job market is good (33%), and financial conditions will have improved six months from now (39%); and,

* Midwesterners are the least likely to say the economic policies of the government are good (10%), least likely to say their household’s financial condition has improved (24%), less likely to say things will get better six months from now (34%) and least likely to say the job market is good (27%).

So What?

The mood of the country is a negative one (see Harris Poll #61, “America’s Sour Mood”) driven by the economic hardships people are currently facing. Things need to turn around quickly for any positive news to improve how people feel and, until that news translates into lower prices for basics and more money in the wallets of Americans, these negative attitudes will most likely persist.

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