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share save 120 16 Gallup Poll Watch: U.S. Economic Confidence Looks Bleak

US economic confidence Gallup Poll Watch: U.S. Economic Confidence Looks Bleak

According to the latest Gallup Poll.

Americans continue to have both a negative view of current U.S. economic conditions and a bleak outlook for the U.S. economy’s future, resulting in a Gallup Economic Confidence Index reading of -28 for the week of Aug. 13-19 — basically unchanged from the previous week.

Americans’ economic confidence has been low for most of the summer so far, with weekly averages between -23 and -29 since June 11. Prior to that, Americans had been somewhat more optimistic, and the weekly average of -16 in late May represented the highest confidence reading of the year. The -29 reached in January and again in late July represent the low points of the year so far. At the same time, Americans’ confidence was significantly lower in the latter part of 2011 than it is now.

Gallup’s Economic Confidence Index consists of two measures — one assessing current economic conditions and the other assessing the nation’s economic outlook.

I don’t see any burst of economic confidence out here in California. In fact, the news is filled with noise of impending business troubles and municipal bankruptcies.

So, what does this mean?

President Obama and other incumbent POLS don’t have much positive economic momentum to run for re-election.

share save 120 16 Gallup Poll Watch: U.S. Economic Confidence Looks Bleak

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share save 120 16 Day By Day April 16, 2012   Obama Tag Team
day by day 041612 Day By Day April 16, 2012   Obama Tag Team

Day By Day by Chris Muir

Chris, more and more Americans in the Obama economy are forced to work off of the books, thus, avoiding taxes.

I mean, if it has worked for the illegal immigrants for decades…..

share save 120 16 Day By Day April 16, 2012   Obama Tag Team

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share save 120 16 Poll Watch: Oklahoma City Leads America in Job Creation for Metropolitan Areas   Pittsburgh Second
Job Creation Poll Watch: Oklahoma City Leads America in Job Creation for Metropolitan Areas   Pittsburgh Second

According to the latest Gallup Poll.

Oklahoma City, Okla., had the highest score on Gallup’s Job Creation Index among the 50 largest U.S. metro areas in 2011, followed by Pittsburgh, Pa., and several Southern metros. More than one in three workers in each of the top-performing metro areas said their employer was hiring or expanding the size of its workforce, but Oklahoma City led because of the relatively low percentage of workers (12%) who said their employer was letting workers go or decreasing the size of its workforce.

The metro areas surrounding Richmond, Va., Nashville, Tenn., and Orlando, Fla., complete the top five large metro areas with the highest Job Creation Index scores.

The results are based on Gallup Daily tracking interviews with U.S. workers conducted from January-December 2011. Gallup interviewed at least 698 respondents in each of the 50 largest metro areas in 2011, including 1,000 or more in 38 metro areas. Nationwide in 2011, an average of 31% of U.S. workers said their employer was hiring, while 18% said their employer was letting workers go, for a U.S. Job Creation Index score of +13.

The top-performing large metro areas have above-average hiring levels combined with below-average levels of letting go, resulting in high Job Creation Index scores. On the other side of the spectrum, some metro areas have relatively low hiring combined with high levels of letting go, resulting in low Job Creation Index scores.

Providence, R.I., Riverside, Calif., New York City, Sacramento, Calif., and Buffalo, N.Y., rank as the bottom five in net hiring among large U.S. metro areas.

Read the rest of the polling report.

Unfortunately, California and Nevada continue to struggle in the job hiring and letting go fronts.

What are the implications?

More employees will leave California for greener pastures in other less costly states, compounding on an already devastating California budget deficit.

And, in Nevada, voters may seek their revenge by voting out President Barack Obama in this Electoral College key battleground state.

share save 120 16 Poll Watch: Oklahoma City Leads America in Job Creation for Metropolitan Areas   Pittsburgh Second

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share save 120 16 Poll Watch: United States Economic Confidence the Best in Four Years
Gallup US Economic Confidence Poll Watch: United States Economic Confidence the Best in Four Years

According to the latest Gallup Poll.

U.S. economic confidence improved sharply to -18 in the week ending March 11 from -25 the prior week — the highest since the week ending Feb. 13, 2011, when it was also -18. The -18 readings this year and last are the highest weekly levels Gallup has recorded since it started tracking confidence daily in January 2008.

Americans’ economic confidence had declined recently from -20 in the week ending Feb. 12 to -25 for the week ending March 4. This brief deterioration in confidence may have been, at least in part, a response to increasing gas prices at the pump. However, the government’s positive unemployment report out last Friday appears to have given economic confidence another boost, as seemed to be the case following January’s unemployment report.

Gallup Daily tracking reveals that Americans’ confidence in the economy increased Friday, Saturday, and Sunday after the government report came out.

Read the entire report over at Gallup.

I am feeling better economic conditions in California although unemployment is unreasonably high and the state of California has massive budget deficits. I would say economic conditions are fluid and with rising fuel prices, there are unknowns on the horizon.

If I were President Obama, I would be leery of improving conditions to help in his re-election effort. And, if I were a GOP challenger, I would not be confident that a deteriorating economy would propel you into office.

It is important to note that Americans’ confidence in the economy was similar last year around this time. However, Americans’ hope for improvement in the overall economy during the months that followed the momentary surge in confidence early last year did not materialize. In fact, by last summer, the economy appeared to be near another downturn as politicians in the nation’s capital did battle over raising the federal debt ceiling.

It appears economic confidence is at another possible turning point, with gas prices on a pace to reach record highs in the summer. Further, it is not clear if the government can continue to report more good jobs news given modest economic growth.

For now though, it appears that higher gas prices have not been enough to keep Americans’ economic confidence from matching its highest weekly level in four years. However, if job increases slow, gas prices may quickly be perceived as an even more important threat, not only to Americans’ economic confidence, but also to the overall economy in the months ahead.

share save 120 16 Poll Watch: United States Economic Confidence the Best in Four Years

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share save 120 16 U.S. Job Creation Declines in February   Hiring Down and Firing Up
Gallup US Job Map U.S. Job Creation Declines in February   Hiring Down and Firing Up

According to the latest Gallup Poll.

Job market conditions in the United States slid back slightly in February, as Gallup’s Job Creation Index fell to +14 from +16 in January. The February score matches those recorded from October through December 2011. However, the reading last month reflects an improvement of two percentage points compared with a year ago (+12 in February 2011).


Gallup Job Creation Declines U.S. Job Creation Declines in February   Hiring Down and Firing Up


Hiring Down, Firing Up

The February Job Creation Index of +14 is based on 32% of workers nationwide saying their employers are hiring workers and expanding the size of their workforce, and 18% saying their employers are letting workers go and reducing the size of their workforce. The percentage hiring is down from 33% in January, while the percentage letting go is up from 17%. Both February percentages now match the readings recorded each month in the fourth quarter of 2011.


The chart:

Gallup Hiring Down and Firing Up U.S. Job Creation Declines in February   Hiring Down and Firing Up

What does all mean?

The American economy is NOT dramatically improving on the jobs front. With gasoline prices haven risen and rising and job creation prospects flat around the country in almost all regions – see map at the top), the Obama Administration will have a hard time making a case for success of their economic policies.

Declining consumer confidence is also generally unfavorable for the economy.

Gallup’s March numbers are looking a little better, but stay tuned since it is early in the month.

There will be no carping from the White House on these numbers, in advance of the government’s release of their numbers on Friday.

share save 120 16 U.S. Job Creation Declines in February   Hiring Down and Firing Up

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