Tag Archives: survey

Dislike your Job? You’re Not Alone: American Job Satisfaction at Record Low

Think Americans who have jobs in this economy are thrilled just due to getting paid? Think again. According to a new survey by the Conference Board, only 45 percent of Americans are satisfied with their work. That’s the lowest level in 22 years of the survey being run.

The cause of the mass unhappiness isn’t clear, and while the recession certainly factors in (I’d bet salary freezes and Plexiglas ceilings aren’t helping matters) worker dissatisfaction has been on the rise for more than two decades, according to the report.

Again, this leads back to my question of — what makes us happy? The rise of unhappiness in work seems to match the rise of television being controlled by the five largest media corporations, and advertising becoming a prominent part of our lives. With all of the negative messages we receive every day about how we’re not good enough, it seems no level of work — or money — can make us truly happy.

The study notes that workers claim their unhappiness stems from issues such as boring jobs, incomes that haven’t kept up with inflation, and the soaring cost of health insurance.

“If the job satisfaction trend is not reversed, economists say, it could stifle innovation and hurt America’s competitiveness and productivity,” reports the AP. umer Research Center.

Workers under 25 expressed the highest level of dissatisfaction. Roughly 64 percent of workers under 25 say they were unhappy in their jobs. The recession has been especially hard on young workers, who face fewer opportunities now and lower wages, some analysts say.

Conference Board officials and outside economists suggested that weak wage growth helps explain why workers’ unhappiness has been rising for more than 20 years. After growing in the 1980s and 1990s, average household incomes adjusted for inflation have been shrinking since 2000.

Some other key findings of the survey:

• Forty-three percent of workers feel secure in their jobs. In 2008, 47 percent said they feel secure in their jobs, while 59 percent felt that way in 1987.

• Fifty-six percent say they like their co-workers, slightly less than the 57 percent who said so last year but down from 68 percent in 1987.

• Fifty-six percent say they are satisfied with their commute to work even as commute times have grown longer over the years. That compares with 54 percent in 2008 and 63 percent in 1987.

• Fifty-one percent say their are satisfied with their boss. That’s down from 55 percent in 2008 and around 60 percent two decades ago.

4 in 10 Americans Don’t Know When They’ll Retire

With a mix of a morbid stock market and American’s not understanding just how much money is needed for retirement, the country is filled with people who may never get to enjoy a retirement.

A study that came out today from ING Direct reports that 40% of Americans expect to retire much later on or not at all. Americans will be chained to their jobs longer than ever before just to keep up with their bills and ensure food is on the kitchen table. The survey results also noted that over 60 percent of Americans are significantly more concerned about saving enough money for retirement and having the right type of retirement plan than they were six months ago.

Some other interesting stats from the survey:

· Nearly half of all Americans (47 percent) have “no clue” how much money they need to retire;

· Despite nearly two years of economic turmoil, 65 percent of Americans have not adjusted their retirement investments;

· One in five Americans (19 percent) are still banking on Social Security to be their main source of retirement income; and

· One-fifth (21 percent) of Americans are contributing less to retirement than they were last year

This is pretty scary stuff. The only thing that I go on is that retirement is maybe not a necessity. Well, at some point when I can no longer move or think I’ll want to retire, but I hope I’m well into my 80s at that point. I enjoy working, and can’t imagine enjoying retirement. I’d be bored silly. Maybe my mind will change by then, but still — my biggest fear is not having enough money to take longer vacations and travel in between being professionally productive. I’m definitely not banking on social security to be my main source of retirement income.

The national online survey of 1,223 adults was conducted by Harris Interactive on behalf of ING DIRECT between February 18-19, 2009.

People My Age Are Stupid

…so says a new report by the AARP. In a survey of folks ages 19-39, the majority of them didn’t seem to be worried about credit card debt, or the fact that they weren’t saving enough for retirement.

I’m glad that I surfed on to An English Major’s Money blog about two years ago. I don’t remember how I got there, but reading her blog and other PF blogs made me feel more confident about investing and saving. I was almost too ashamed to invest or save at that point, given that I had money tucked away already. But then I realized how I needed to start making that money work for me, and not to feel bad for doing so.

But most 20-somethings are dumb about these things. If they’re lucky, they’ve got an employee-sponsored 401k plan with match, and they contribute some of their earnings to that because their employer recommended it and salesman from mutual fund firms came and pitched the horrors of not being prepared for retirement in order to sell their high-fee funds. Unlucky and they’d be in credit card debt with no savings, no “emergency fund,” and definitely no retirement fund for the future.

I’m so grateful to the personal finance blogging community for getting me on the right track.