Confidence In The Job Market Is Growing [POLL/AUDIO]
A new survey finds workers, in New Jersey and across the country, are feeling more secure about their jobs.
The 2012 General Social Survey reveals that Americans increasingly feel they could find a new job if necessary, if they’re laid off or fired.
“This is a very positive sign, absolutely, and it reflects the strengthening labor markets that the country has been experiencing,” says Rutgers economist Joe Seneca.
He points out during the Great Recession 8.8 million Americans lost their jobs, and many are still not back to work. But the nation has added 2 million new jobs over the past year, the job growth this year to date has been strong, incomes are up and there are signs of house prices rising and housing demand increasing.
“There are a whole series of signs that are positive and pointing to an economy that is not growing out of its shoes rapidly, but one that is moving forward,” he says.
Seneca also points out when consumers feel confident about holding onto their jobs it promotes a confidence in the future, and that begets some spending, and that spending is key for the upward cycle of further spending and further multiplier employment.
“There are some headwinds,” he says. “They have to do with the ongoing debate and paralysis in Washington, and the European Union is still difficult, but there is a growing confidence that we’re seeing an economy that is more stable, less likely to be shocked, and all that purports well for consumer and business investment pending.”