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Just since the National Bureau of Economic Analysis formally declared last week that  the Great Recession ended a yr ago doesn’t mean those with jobs are about to start spending again.
A summary of the periodic Mercer Workplace Survey,microsoft Office 2010 Activation, out today, says that while still-employed employees are optimistic about the direction of the overall economy, they are a lot less happy about their own individual situations. Mercer, a consulting firm owned by Marsh & McLennan, said the disconnect in attitudes toward the big and and small picture was the first detected in eight years of polling.
According to a Mercer press release,Cheap Office 2010,  77% of the 1,500 workers polled expect the economy to grow,Office Pro Plus 2007 Key, roughly the reading before the recession began in 2007 but more than the 56% rating recorded in 2008. And the number of those expecting the economy to sink has dropped by almost half to 23%.
But that doesn’t square with the workers’ own evaluation of their situation. More than one-third–36% to be exact–reported they are still concerned about losing their job in the next 12 months,Office 2010 Sale, compared with 27% in 2007.
From a spending perspective, the most worrisome development was the growing perception–likely due to erosion of asset values–that workers hadn’t saved enough for retirement. The implication is that they might cut back now to do so. According to Mercer,  there was a one-third jump in the number of workers reporting that inadequate retirement savings kept them “awake at night.” A similar percentage jump was recorded for those saying their greatest financial fear was inability to fund long-term care for themselves or their spouse.
“Traditionally, participant attitudes toward the overall economy and personal financial outlook trend closely together–either positively or negatively,” Mercer said. But “a return to pre-crisis ‘optimism’ may take longer than many had hoped.”
Mercer said it polled 1,500 workers in company benefit plans in May and June. It calculated the survey’s margin of error at 2.5%.
The actual final study was not available immediately and apparently doesn’t even exist yet. “We are still compiling the full report,” a Mercer spokesman said in response to a query from Forbes.  The press release,Windows 7 Serial, he said, contained “top-line findings that we found compelling and wanted to get out ASAP.”   While the press release calls its workplace survey an “annual” event, the spokesman also acknowledged Mercer did not conduct it very last 12 months.