Betty on the News: 6 in 10 Americans Worried about Job Loss or Paycuts
Lots of fear still surrounding the economy, according to a recent poll
Although President Barack Obama feels that the economy is slowly but surely improving, roughly six in 10 Americans are currently concerned about losing their jobs or having their wages cut.
According to a new Washington Post-ABC News poll, the majority of the population believes that things are going to get worse before they get better, as not much has changed since February. Moreover, many have very little confidence in the government’s effort to stave off another financial crisis.
The poll found that lower-income participants have had a harder time than others, with more than a third of those annual household incomes under $50,000 reporting a job loss, as opposed to about two in 10 of those with higher incomes.
Pay cuts and fewer hours have impacted participants across the board, regardless of household income. Approximately four in 10 respondents have been forced to rethink their spending, and almost half in the poll claim they – or someone in their household – experienced a job loss or cut in pay/work hours within the past year, up four points since spring. (The Washington Post)