Sacred Heart University News
Contacts: Funda Alp, 203-396-8241, alpf@sacredheart.edu
John Galayda, 203-371-7751, galaydaj@sacredheart.edu
For Immediate Release
April 3, 2008
National Poll Results
AMERICANS’ PERCEIVED PERSONAL STANDARD OF LIVING DROPS DRASTICALLY; ECONOMIC CONCERNS TOP OF MIND
- Over three-quarters see the U.S. in a recession
- Top 2008 election issues: economy, war, healthcare and gasoline prices
Fairfield, Conn. – 55.8% of Americans suggest their current economic standard of living is declining, according to a national poll conducted by the Sacred Heart University Polling Institute. That number is up from 23.9% according to a 2006 SHU Poll.
And today, only 38.0% of Americans suggest their current economic standard of living is improving, which is drastically down from 71.7% reported in the 2006 SHU Poll.
“Clearly, the crisis in the credit markets, coupled with significant increases in not just gas but also food has combined to make the average American feel poorer and pessimistic about the future,” stated John Gerlach, senior business executive in residence and associate professor in the John F. Welch College of Business at SHU.
Among the top 10 national problems or issues cited by survey respondents, seven are economic concerns:
What national problems or issues are you most concerned about today? (Multiple responses were accepted.) | March 2008 |
Poor economy | 46.3% |
War in Iraq | 34.1 |
Healthcare costs | 18.3 |
High gas prices | 16.3 |
High unemployment rate | 6.1 |
Immigration issues | 6.0 |
Cost of living | 6.0 |
Safety of U.S. | 3.9 |
Taxes are too high | 3.9 |
Price of oil | 3.6 |
Presidential race | 3.5 |
Government corruption | 3.4 |
Environment deteriorating | 3.1 |
Improving education | 3.1 |
Terrorism | 3.0 |
“Given growing concerns over poor economy, healthcare costs, high gas and oil prices, and cost of living, it’s not surprising to see 76.5% of Americans confidently tell us that the U.S. is currently in a recession,” according to Jerry C. Lindsley, director of the Sacred Heart University Polling Institute. He added, “Unfortunately, only 31.4% see the coming tax rebate helping to improve the U.S. economy.”
According to Gerlach, “Consumer spending accounts for about 70% of our GDP, so it is little wonder that the economy slowed to a 0.6% increase in the fourth quarter of 2007 and is likely to show a decline in the current quarter. A recession is technically two successive quarters of negative GDP growth, but there is little doubt that it is only a matter of time before that occurs.”
“The prospect of further problems in the credit markets and increased job losses only adds to the negative feelings by most Americans, and as has been noted by more than one observer, the tax rebate will pay for a decent dinner in most cases and not much more,” he said.
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EXPERTS AVAILABLE FOR COMMENT
- John Gerlach, senior business executive in residence and associate professor in the John F. Welch College of Business, Sacred Heart University
- Jerry Lindsley, director, Sacred Heart University Polling Institute
To speak with these experts, please contact Funda Alp at 203-396-8241 or alpf@sacredheart.edu.
How the Poll Was Conducted
The Sacred Heart University Polling Institute completed 800 interviews with residents nationwide between March 3-15, 2008. The sample was generated proportional to population contribution in all 50 states. Statistically, a sample of 800 completed telephone interviews represents a margin for error of +/-3.5% at a 95% confidence level.
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About Sacred Heart University
Sacred Heart University, the second-largest Catholic university in New England, offers more than 40 undergraduate, graduate and doctoral programs on its main campus in Fairfield, Connecticut, and satellites in Connecticut, Luxembourg and Ireland. Approximately 5,800 students attend the University’s four colleges: Arts & Sciences; Education & Health Professions; University College; and the AACSB-accredited John F. (Jack) Welch College of Business. The Princeton Review includes SHU in its “Best 366 Colleges: 2008,” U.S. News & World Report’s “America’s Best Colleges 2008” ranks SHU among the best master’s universities in the North, and Intel rates it #11 among the nation’s most “unwired” campuses. SHU fields 32 division I athletic teams, and has an award-winning program of community service. www.sacredheart.edu
For additional Sacred Heart University news, please visit http://www.sacredheart.edu/pressroom.cfm.
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