Close Close

Life Health > Health Insurance > Your Practice

MetLife: U.S. Consumers See Economy Improving

Your article was successfully shared with the contacts you provided.

Americans are telling pollsters that they believe the U.S. economy and their personal financial situations may have bottomed out.

A unit of MetLife Inc., New York (NYSE:MET), has published those figures in a summary of results from an April telephone survey of 2,243 individuals. The sample included members of the Silent Generation (born 1933-1945), baby boomers (1946-1964), Generation X (1965-1977) and Generation Y (1978-1994), and it also included African Americans, Chinese Americans, South Asian Indians and “middle market” consumers with annual household incomes ranging from $35,000 to $100,000.

About 33% of the survey participants said they think the U.S. economy will be better this year than it was in 2009, and 41% said the economy will be about the same. Only 26% said the economy will be worse this year than in 2009.

In 2009, 44% of the consumers MetLife polled predicted the economy would get worse.

About 35% of the participants polled this year said their personal situation will improve this year, and 41% said their personal situation will stay the same.

Although participants see the economy bottoming out, two-thirds said a recovery is 3 or more years away.

Only 34% of Americans said they have an adequate financial personal safety net, but 77% said they are taking action to build one.

Other survey findings:

- 56% of the participants said they have taken on more responsibility at work due to cutbacks in staffing.

- 42% said they are working at least as hard as their parents worked.

- 68% said they would be willing to take a 10% pay cut if that would stop their employers from laying off workers.