On January 18, Gallup published poll results titled “Half in U.S. Feel Worse Off Financially.”
The poll asked various questions, including this one :
Would you say that you are financially better off now than you were a year ago, or are you financially worse off now?
An excerpt from the results, as discussed in the aforementioned January 18 release:
Nearly half of U.S. adults, 49%, say they are worse off financially today than a year ago, while 29% say they are better off and 21% volunteer that their finances haven’t changed. The percentage rating their current finances negatively compared with a year ago is down from the high of 55% recorded twice in 2008, but is still among the highest in Gallup’s four decades of measuring this attitude.
The chart shown in the poll results shows that the “% Worse off” results are notably elevated since latter-2008, relative to the other results going back to 1976.
While the question asked is somewhat subjective, these poll results seem to further support other information (much of which has been highlighted in previous blog posts) that despite an economic recovery/economic expansion (as officially designated by NBER) since June 2009 a large percentage of people in the United States are not seeing their personal financial condition improve.
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1310.79 as this post is written