Despite post-hurricane economic woes, blacks remain optimistic on jobs
(November 1, 2005) In spite of the tragic aftermath of hurricane Katrina, African-Americans have expressed optimism about their near-term employment status. Their plans to make big purchases, however, have dropped significantly. These attitudes are demonstrated in the results of the Target Market News/NiaOnline Black Consumer Confidence Survey taken in late September.
In the survey, 73 percent of African-Americans said they will be in their current jobs for the next 90 days. This is an increase over August’s 71 percent, and is the highest percentage recorded since the survey began in May of this year. Among white respondents, 73 percent expressed confidence about their employment for the near future, a number that has remained the same since July.
"Despite recent speculation about the economic effects of natural disasters and rising energy prices, blacks expressed continued and steady confidence in their job status," observed Cheryl Mayberry McKissack, president and CEO of Nia Enterprises in Chicago.
When asked if they will purchase big-ticket items, such as a car or major appliances, in the next three months, only 25 percent of black respondents said they would. That is a decrease of five percent over the previous month’s 30 percent. The number of blacks planning to buy is still significantly higher than the 13 percent of whites who said they would make such a purchase.
”These numbers suggest that blacks were able to separate the tragedy that occurred in the Gulf States from their own circumstances,” said Ken Smikle, president of Target Market News. “They have had a reasoned reaction to the hysteria about how this unprecedented disaster will impact them personally. This optimism likely also had an impact on their unprecedented response of generosity to help the victims.”
The latest Target Market News/NiaOnline Black Consumer Confidence Survey was conducted in September 2005 by Chicago-based Nia Enterprises, LLC through its NiaOnline Quick Response survey service (www.niaonline.com). All respondents to the survey were members of NiaOnline.com's Consumer Advisory Panel, which reaches over 125,000 black household members. The results are based on answers from 406 black respondents and 445 white respondents.
How do you feel about your job status for the
next 90 days?
BLACKS May June July Aug Sept
Will be in 69% 69% 72% 71% 73%
current job
May not be in 31% 31% 28% 29% 27%
current job
WHITES May June July Aug Sept
Will be in 71% 70% 73% 73% 73%
current job
May not be in 29% 30% 27% 27% 27%
current job
--------------------------------
Do you think you'll buy a big-ticket item in the next 90 days?
BLACKS May June July Aug Sept
Yes 25% 29% 26% 30% 25%
No 51% 55% 53% 52% 58%
Not sure 24% 15% 21% 18% 17%
WHITES
Yes 17% 16% 16% 14% 13%
No 58% 60% 59% 63% 63%
Not sure 25% 24% 25% 23% 24%
