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Overland Park, KS (Profitable.com) Everyone wants the economy to bounce back, but we all have different ideas about when it will happen. It seems that 40% of respondents in a December Persuadable Research survey say it will take up to three years for the economy to improve. Almost the same number, 38%, think it will be three to five years before the economy sees the light at the end of the tunnel.
Panelists feel that there are several elements contributing to the lagging economy. Banks and other financial institutions are pointed to by 81%. The U.S. Congress was also at fault according to 79%. Interestingly, panelists believe that Congress had and still has a very strong role in shaping the past and current state of the economy. Past and present White House Administrations, on the other hand, were being blamed by far fewer respondents, 56%. In addition to that, 75% felt that outsourcing jobs was holding our economy back, while the wars in Iraq and Afghanistan were mentioned by 71% of panelists. Because the war in Iraq came to an end this month, this may have an effect on people’s opinions and on the economy as a whole.
“There have been more layoffs; companies are forcing people to retire or are being bought out; prices are increasing; wages are decreasing; and stocks are bombing,” says one respondent. People are anxious about spending and also about jobs. Over one-third, 37%, believe that the economy is negatively affecting their ability to find a job presently. Additionally, 35% think that the economy is holding them back from advancing in their jobs. A clear majority of respondents, 69%, do not believe that they could get another job with comparable pay within ninety days if they should lose their current job.
There is a small number of panelists that think that this is the new norm; that the economy will never bounce back. Still, on the other hand, there is a whopping 92% who have faith that some way, somehow, the economy will be resuscitated. According to the survey, it’s almost as if the bulk of attention is on Congress, not the White House, to provide leadership on important issues such as keeping jobs in the U.S., managing the banking industry better, and working out trade issues with China. Perhaps, decisive teamwork among members of Congress would be enough to drive up consumer confidence and shorten the economy’s sentence.
Chip Osborn is the CEO of Persuadable Research Corporation, a full service online market research company. Their high-tech structure is a powerful alternative to old line research companies. Get paid to take online surveys by visiting Rocket Powered Surveys today.