The Great Recession Is Over, But Most of Us Are Still Pessimistic

You might not know it, but the Great Recession officially ended last decade. 

As we rapidly enter the second half of this decade, Californians still aren't over the second-worst economy in American history.

The latest USC Dornsife/Los AngelesTimes Poll, conducted by SurveyMonkey, found that six in 10 Californians are "dissatisfied" with the "economic situation" in this here Golden State.

Interestingly, Angelenos aren't as unhappy with the economy as folks in other parts of the state. This despite having relatively low wages and some of the least affordable housing in America.

Forty-five percent of us are relatively satisfied with local cash flow. In booming San Francisco, that figure is 52 percent. Life is good when you work in Hollywood or get a paycheck from Google.

Things start to look more pessimistic in places like the Central Valley (32 percent of locals there are economically satisfied), Orange County and San Diego (33 percent) and the Inland Empire, home of the foreclosure (21 percent).

"Coastal and inland California have become two increasingly different states — economically, culturally and philosophically," said Dan Schnur, director of USC’s Jesse M. Unruh Institute of Politics. "Californians who live in the eastern part of the state tend to have less education and lower incomes, so it's no surprise that they are much less satisfied with the economy as well."

Republicans (76 percent of whom are concerned about the state of the economy), and white people who didn't go to college (70 percent) are some of the groups expressing the most economic worry.

Some of the most optimistic people in the Golden State are Latinos, 57 percent of whom said they were hopeful about their own financial fortunes, and Californians ages 18 to 29, 53 percent of whom say things are looking up for their own bank accounts.

The poll surveyed 2,009 registered voters in California.


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