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?
|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?
|Not sure||122||11.94 %|
How secure is your job?
|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?
|Fully recovered||39||3.79 %|
|On the way to recovery||374||36.31 %|
|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?
|No change||215||20.85 %|
|Not sure||28||2.72 %|