Despite recent reports from economic experts and national policymakers that the recession may be over, most American workers (53%) believe that the U.S. is still in a recession, according to a study entitled "The No Confidence Economy."

Another 29% go further, labeling the U.S. economy as being in adepression. Half of the workers surveyed believe the American economy is undergoing a profound and lasting transformation. These grim assessments come from a newly completed Work Trends study by the John J. Heldrich Center for Workforce Development at Rutgers University.

Just 12% say now is a good time to find a quality job  -- the lowest level reported by the American workforce in more than a decade. Only 20% are confident they could find a job as good as the one they have now if they were looking.

Other major findings of the national survey:

• About 45% of workers (more than 68 million Americans) now report that they or a family member has been laid off or had their salary frozen or had to take unpaid furlough days.
• 84% of American workers report that their family has been at least
  somewhat affected by the recession. More than one-third (38%) say the economic downturn has had a major impact on their families, up from 29% in spring 2009.
• Six in ten say they are spending less now than 12 months ago; over half say they have put off a vacation or work on their homes? The vast majority of American workers (58%) are carrying some debt, excluding their rent or mortgage.
• One in four respondents say they have borrowed money from friends or family to make it through the recession.

Concerns about Management of the Economy

When asked to choose between "another economic stimulus package even if it causes the debt to increase," or forgoing that approach because "the U.S. can't afford any more debt," workers opposed additional stimulus spending by a margin of better than two to one. Only 24% prefer the stimulus even if it drives up debt, whereas 69% say there should not be a new stimulus package if it increases the national debt.

Moreover, the President is facing criticism from American workers over his economic policies. Half the workforce offers critical views of the President’s handling of the nation’s economy. Just 11% feel the President has been doing an excellent job in this area, and another third say he has been doing a good job. One in four says he has done only a fair job (26%); the rest (25%) say his stewardship of the economy has been flat out poor.

"Our survey reflects the growing impatience and frustration of American workers about a recession that has lasted nearly two years," said Dr. Carl E. Van Horn, coauthor of the study. "The President and Congress face a very difficult dilemma. American workers want more jobs, but they do not want the government to borrow more money to pay for programs or tax cuts that might generate them."

View article on one page