From Newsday:

Poll finds New Jerseyans glum about economy

New Jerseyans aren’t feeling especially festive with the Fourth of July holiday approaching. A new poll finds them increasingly worried about their finances.

The survey by Fairleigh Dickinson University’s Silberman College of Business and conducted by the university’s PublicMind poll center found 54 percent of New Jerseyans think they’re worse off financially than they were a year ago. That’s up from 48 percent in March and 41 percent in January.

Just one in five say they are better off financially than a year ago.

“This is the first time in the six years in which we’ve taken this measure that a majority of people say their condition has worsened,” said James Almeida, associate dean of the Silberman College of Business and a professor of entrepreneurship.

People are also less optimistic about the future. Just 34 percent think they’ll be better off a year from now.

“People who are otherwise confident of their personal financial standing are seeing negative indicators about the economy in general, and that makes them less sure of their own prospects for the future,” Almeida said.

The poll found younger people more optimistic about their future than older respondents, with 57 percent of those age 30 and under saying they’ll be better off a year from now, compared to 21 percent of those 60 and over.

The poll found 46 percent are using their federal economic stimulus checks to pay bills, with 23 percent saving it and 20 percent spending it.

“Middle-aged folks are using it to reduce debt,” Almeida said. “It’s a rational response to the perceived economic uncertainty.”

Though pessimistic about the economy, only 24 percent are somewhat or very worried that they might lose their job in the next 12 months.