The Blubber

Per Bloomberg

60% of Americans coming from different income groups are optimistic about 2024. According to the Gallup poll, they believe that their finances would improve.

Gallup shares that the optimism is not actually unusual and that Americans lean more towards expecting improvement. Jeffrey Jones noted in the report that the optimism could potentially help the economy steer away from a possible recession.

Jones: “If this optimism holds and consumers act accordingly, it may help to minimize or avert an economic recession,”

While most Americans shared their optimism, half of them say that compared to a year ago, they are now financially worse. The report says this was the highest recorded response to deteriorating financial standings since 2009.

A larger portion of the lower-income Americans shared that they had it worse than a year ago. Out of all households earning less than $40,000, 61% of them said that they were actually worse off.

Gallup shared different factors that had likely affected the financial situation of most Americans. These factors included rising interest rates, high inflation, and even a drop in the value of the stock market.

Only 35% of participants in the survey said that they were actually better off this 2023 compared to their standing a year ago. 14% of participants shared that their finances remained the same today as they did a year ago.

The poll was held on January 2 and ended after 20 days. It also showed that 26% of lower-income Americans said their situation improved.

Recently, data from LinkedIn showed that four out of five Gen Z workers want to move to different jobs this year. A major reason why they wanted to shift careers was that they found their current positions to be "unfulfilling" and that they were seeking a greater purpose.

It was also recently found that Manhattan-based remote workers actually cost the city $12.4 billion per year.

See flow at unusualwhales.com/flow.

Other News:

• LinkedIn data reveals 4/5 Gen Z workers want to move jobs this year after finding it 'unfulfilling'
• Manhattan-based remote workers are costing the city $12.4 billion annually

Resources:

Bloomberg

Gallup