Twenty-four percent of middle-class Americans are increasingly unhappy professionally, and 39 percent of middle-class Americans are looking for new jobs, according to the First Command Financial Behaviors Index.
Professionally unhappy respondents represent a jump from 21 percent in 2010 and 11 percent in 2009, and new job seekers have grown from 29 percent in 2010.
"This rising discontent in the middle-class workforce is clearly being fueled by the continuing economic turmoil," says Scott Spiker, CEO of First Command Financial Services Inc. "Americans were significantly more satisfied with their jobs in 2009 when many people believed that the recession would soon come to a close. The persistent economic downturn has taken a toll on middle-class Americans, with many people feeling that they are being asked to work more and are making less. So it makes sense that consumers are starting to look for more appealing alternatives to their current circumstances."
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Of the survey respondents, 60 percent say the economy has cause at least one change in their employment situation, an increase from 56 percent in 2010. The top-three changes all involve pay, with the bonus eliminations at 20 percent, overtime eliminations at 14 percent and pay decreases at 14 percent.
Still, respondents say they are working more to earn their pay. In fact, 56 percent of respondents cite making at least one change in their work behavior because of the economy, which is up from 47 percent in 2010. These respondents say they are working extra hours at 19 percent, keeping busy with work at 17 percent, finding ways to trim costs or develop better operational procedures at 15 percent, and learning new skills at 15 percent.
Approximately one-third of respondents who are employed but seeking new work believe there are significant job opportunities available, regardless of the unemployment rate, and 17 percent of those respondents agree jobs will emerge in the course of the next 12 months.
"This relatively high level of optimism is a promising development at a time when many Americans continue to express deep concerns about the future of the economy," Spiker says. "Three out of five middle-class consumers believe the U.S. is in a double-dip recession, and two out of five say they expect the economy will continue to fall deeper into a recession. Perhaps in these employment-related responses, we are seeing an early indicator of a broader improvement in consumer sentiment, one that will positively affect financial attitudes as the nation moves into economic recovery."
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