Americans Are Feeling Upbeat About the Economy

Americans Are Feeling Upbeat About the Economy

Five years after the Great Recession officially ended, Americans are finally starting to feel more hopeful about the future of the U.S. economy.

According to a new CNBC survey, 91% of Americans believe their home prices will either remain stable or increase over the next year. That’s the highest percentage recorded since March 2007.

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Respondents were equally optimistic about their careers. 38% believe wages will rise in the next year, the largest percentage since December 2008.

Meanwhile, the number of Americans who still feel down about the country’s financial future has decreased significantly. 33% of survey participants judge the current state of the economy as poor, compared to 38% three months ago.

Our increased optimism may be partly a result of the May jobs report, which confirmed that the U.S. economy added 217,000 jobs, enough to exceed pre-recession levels.

Still, our expectations aren’t quite as rosy as they were in the pre-recession days. The survey found that Americans anticipate the price of their homes will increase 2.2% over the next year, which is just slightly more than half of what they predicted in 2007. When it comes to salaries, Americans expect their wages to rise by 3.5%, compared to between 5% and 7% before 2008.

It also seems like few Americans are ready to express complete confidence in the country’s economic prospects. Only 18% of respondents said the economy is good or excellent, compared to 26% before the recession.

While most of us may not be ready to proclaim the current economy “excellent,” take heart: Experts say we’ve bounced back from the downturn faster than we have from previous recessions.

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