This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Americans, Amid Recession, Dislike Their Jobs

NEW YORK (TheStreet) -- Even after the deepest recession in 80 years and an unemployment rate that doubled in two years, many Americans don't like their jobs.

So says a Conference Board report, which found that only 45% of Americans are satisfied with their employment situation, based on a survey of 5,000 households. Just 12% said they were "very satisfied." That marks the lowest job-satisfaction rate since the organization first conducted the survey in 1987, when 61% of respondents liked their jobs. In 2008, the satisfaction rate was 49%.

The results come at a time when the unemployment rate hovers around 10%, with large companies such as Boeing (BA), Cisco (CSCO) and Microsoft (MSFT) announcing mass layoffs throughout 2009. In such an economy, it makes sense that Americans were taking any jobs they could get -- sweeping floors, flipping burgers or washing cats -- and they're not happy about living below their normal means. Yet the data indicate that the job-satisfaction rate isn't directly related to the economy. In fact, with the exception of a slight increase in 2005, the satisfaction rate has declined for every five years since the Conference Board first started reporting it.

According to the survey, 34% of people are satisfied with their pay, 25% are happy with their company's job-training programs, 20% are satisfied with their company's promotion policy, and 19% are satisfied with the bonus plan. Regarding benefits, 46% are satisfied with their company's sick-leave policy, 41% with the health plan and 35% with the retirement plan.

But financial factors aren't the only things leaving employees cold. Only 34% reported satisfaction with their companies' flex-time policies, 28% were happy with nonfinancial recognition of their work, 31% said they were satisfied with the communications channels at their companies, 36% were satisfied with work/life balance, and 27% thought there was decent potential for future growth.

Of all the categories in the survey, "commute" got the highest satisfaction, 56%, likely thanks to the telecommuting trend. Co-worker satisfaction rated 56%. Supervisors, interest in work and physical environment each scored 51%. But even among these higher-rated categories, satisfaction rates were markedly lower than they were in 1987, when 70% of respondents found their jobs interesting and 60% liked their bosses.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs