US Economy: Do Most Americans Feel Confident About The Job Market?

There is a growing sentiment among American workers that the time is right to look for a new job, with the promise of a better opportunity awaiting them.

A recent Gallup poll released Wednesday, conducted April 1-19, found that a majority of Americans feel confident about the job market. In April, there was a 3.6% unemployment rate -- a historic low, especially with the past two years of the COVID-19 pandemic making the global economy unpredictable.

While there is still uncertainty about the future, the poll found that 71% of adults feel it is a good time to go job hunting for a quality position. During the pandemic, the percentage of people expressing confidence in the job market ranged from 22% to 43%.

Most also feel confident in their ability to keep their jobs. The majority feel their jobs are secure, with 30% saying that losing their job is "not too" likely. Another 55% reported that it is "not likely at all" that they will lose their jobs within the year.

Only 15% of respondents reported that it was likely they would lose their jobs in the next year. That is down from 25% at the height of the pandemic.

Workers now feel confident that even if they were to lose their jobs, they could find an equally good one. Thirty-one percent of those surveyed reported feeling "very" confident about their ability to find a job of equal quality. Another 32% felt it was somewhat likely.

A minority do not feel confident about how likely it would be they could find a job comparable to their current or former one. Twenty-one percent of people reported it is "somewhat" likely they would find a job of equal quality. Meanwhile, 15% said it was "not likely at all" they could find a quality job.

However, their confidence may be misplaced as there is the potential for a recession amid rising inflation. Companies also have to deal with the Russian invasion of Ukraine and supply chain woes. As a result, some companies more recently announced a slowdown in hiring or laid off staff en masse.