4/18: Guarded Optimism about NYS Economy Remains

April 18, 2012 by  
Filed under Featured, Money, Money Vault, State of the Economy

Has the New York State economy turned the economic corner?  A slim majority of registered voters in New York — 51% — believe the worst of the state’s economic conditions are over.  44% say the worst is still to come, and 5% are unsure.

Click Here for Complete April 18, 2012 NYS NY1/YNN-Marist Poll Release and Tables

There has been little change on this question since NY1/YNN-Marist’s January survey when 52% of voters reported the worst of New York’s tough economic times were behind us, 44% thought there was more bad economic news ahead, and 5% were unsure.

“Although New Yorkers are somewhat optimistic about the economy, their faith in the recovery remains fragile,” says Dr. Lee M. Miringoff, Director of The Marist College Institute for Public Opinion.

When it comes to the state of New York’s economy, a plurality of voters report it’s steady.  Nearly half — 49% — believe the economy is about the same as it has been.  More than one in four — 27% — says it is getting better while 23% think it is getting worse.

Here, too, similar proportions shared these views in January.  At that time, the same proportion — 49% — said the New York economy was status quo, 26% reported it was improving, and 25% believed it was getting worse.

Is New York in a recession?  About two-thirds of voters — 67% — think so while 30% believe the recession is over.  Three percent are unsure.

When NY1/YNN-Marist last reported this question in January, 72% of voters believed New York to be in a recession while 26% did not.  Three percent, at the time, were unsure.

Table: NYS Economy — Will It Get Worse?

Table: NYS Economy — Will It Get Worse? (Over Time)

Table: New York State Economy

Table: New York State Economy Over Time

Table: NYS in a Recession?

Steady State for Family Finances, Says Majority

When it comes to their personal family finances, a majority of New York State voters expect little change in the next year.  53% believe their personal financial picture will remain about the same while 31% think it will get better.  16% report it will get worse.

These proportions are little changed from January when 55% expected their financial situation to stay the course.  30% thought an improvement was on the horizon while 15% anticipated their family finances would get worse.

Table: Family Finances in the Coming Year

Table: Family Finances in the Coming Year Over Time

More Than Seven in Ten New Yorkers Support Increasing the Minimum Wage

72% of adults in New York State believe raising the minimum wage is a good idea because it adds to income during difficult times.  25%, however, say it is a bad idea because in difficult times, small businesses will hire fewer people who need jobs.  Three percent are unsure.

These proportions are nearly identical to those reported in NY1/YNN-Marist’s January survey.  At that time, 69% thought increasing the minimum wage was a good idea while 27% believed it was a bad idea.  Four percent, then, were unsure.

Table: Is Raising the Minimum Wage a Good or Bad Idea?

How the Survey was Conducted

Nature of the Sample

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