For Most, No Improvement in Job Market

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By Douglas A. McIntyre Published
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For most Americans, even those with work, the job market has not made any progress in nearly a year. The U.S. economy has added fewer than 150,000 positions in most months over that time. By some counts, 14 million citizens are either unemployed or underemployed. That means many people have a friend, relative or neighbor out of work. Job mobility has been undercut by the ability of employers to pick the best candidates, because most have added very few workers. And wages for many people have not moved in several years.

This environment causes much of the American workforce to believe that jobs opportunities are very slim. A new Gallup poll concludes:

Americans’ perceptions of whether now is a good time or bad time to find a quality job remain flat at a weak but recently improved level, with 20% calling it a good time and 78% a bad time.

Before the recession, nearly half of those asked thought it was a “good time” to find a job. By that measure, the present perception has an air of hopelessness.

There is no reason to think that the perception of the jobs market will change much this year, and maybe next year as well. Most economic signs point to a slowdown in gross domestic product. Few economists believe that job additions will move above 200,000 a month for the rest of 2012. If current tax cuts are not extended, both consumers and businesses will become less economically active.

Jobs growth is on hold for now, and most Americans know it.

Methodology: Results for this Gallup poll are based on telephone interviews conducted June 7 to 10, 2012, with a random sample of 1,004 adults, aged 18 and older, living in all 50 U.S. states and the District of Columbia.

Douglas A. McIntyre

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Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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