Is New York State’s economic recovery imminent? Three-quarters of registered voters statewide aren’t holding their breath. That’s the proportion who believe the current economic crisis will last more than a year while only 4% say it will last less than 6 months. 21% think it will endure between 6 months and a year.
Most members of the electorate are also pessimistic about the current state of the economy. Just 8% of those polled believe the state’s economy is getting better right now. This compares with 46% who believe the economy is getting worse and 46% who think the economy is staying about the same.
Age makes a difference. Nearly half of voters 45 years of age and older believe the economy is still going to get worse compared with a majority of younger voters who think things have leveled off.
Getting Personal…Family Finances in the Coming Year
A majority of New York registered voters — 55% — think their personal family finances will stay about the same in the coming year. This compares with 20% who believe their finances will get better and 25% who think their circumstances will worsen.
Although a majority statewide thinks their families’ money matters will stay the same, income plays a role. About three in ten residents who earn less than $50,000 annually think their financial picture will get worse in the coming year. This compares with 27% of voters with a household income of at least $50,000 but less than $100,000 and 18% of households with an annual income of $100,000 or more who are worried their family finances will decline in the coming year.