For the first time in this upturn [i.e. since 2009], more consumers say they are better off financially now than a year ago compared with the share saying they are worse off. Plus, a high 83% of workers feel very or fairly secure in their current jobs.
Like reports done by the Conference Board, Thomson-Reuters and the University of Michigan, the most encouraging facet is the optimism about the future. According to the ASR poll, 35% of consumers think they will be better off financially a year from now, outnumbering the 12% who expect to be worse off. Driving that hope is expectations about pay: 31% think their personal income will be higher over the next 12 months versus 14% who expect a pay cut.
This finding goes along with increased wage growth and job openings.** But before we get too excited note that nearly half of the participants must have said that they don't know.
* http://blogs.wsj.com/economics/2014/09/29/at-last-more-consumers-say-they-are-better-off-
than-a-year-ago-than-worse-off/?wpisrc=nl-wonkbk&wpmm=1
** http://stopcontinentaldrift.blogspot.com/2014/10/economy-job-openings-doing-well.html
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