Heartaches by the Number: Just 14% Think Today?s Children Will Be Better Off Than Their Parents; Just 24% of Adults Think the Job Market is Better Than a Year Ago

Here is a round of "Heartaches by the Number" polls, all courtesy of Rasmussen Reports.

July 29, 2012: New Low: Just 14% Think Today?s Children Will Be Better Off Than Their Parents

Hope for the future generation has reached an all-time low. Just 14% of Americans expect today?s children to be better off than their parents.

July 25, 2012: Long-Term Optimism About U.S. Economy Falls to New Low

Confidence that the U.S. economy will recover in the next five years has fallen to its lowest level since early 2009. Short-term confidence isn't much better.

Just 31% believe the U.S. economy will be stronger in one year. Thirty-five percent (35%) predict a weaker economy by next year, and 18% more say it will be about the same. Seventeen percent (17%) are not sure.

August 8, 2012: Right Direction or Wrong Track

Twenty-seven percent (27%) of Likely U.S. Voters now say the country is heading in the right direction. That's down two points from 29% the week before and the lowest finding since late June.

August 7, 2012: 44% Say Jobs Market Worse Than A Year Ago

Confidence in the U.S. job market has fallen again, with the highest number of Americans in 10 months describing the employment situation as worse than it was a year ago.

Just 24% of American Adults believe the job market is better than a year ago. Forty-four percent (44%) say that market is worse now, up 15 points from early June when only 29% felt that way. Thirty percent (30%) describe it as about the same.

Heartaches by the Number Summary

• Just 14% expect today?s children to be better off than their parents
• Just 31% believe the U.S. economy will be stronger in one year
• Just 27% think the country is heading in the right direction. 
• Just 24% of American Adults believe the job market is better than a year ago
• 44% think the job market is worse, up 15 points from June

Demographics Suggest Majority is Right

I happen to agree with the majority who think those now graduating from high school will not be better off than their parents.

There are too few jobs, too much student debt, and too few workers supporting too many retirees on Social Security.

For a graphical representation of that last point, please see Demographic Time Bomb in Pictures and Dollar Amounts; Ratio of Social Security Beneficiaries to Private Employment Now Exceeds 50%

Musical Tribute

I am not a big Country & Western fan (I like 50's and 60's rock and roll), but given the title of this post I feel somewhat obligated to do a musical tribute to Buck Owens.




Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

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