The Impact of Economic Perceptions on Work-Related Decisions

Abstract

The most recent economic downshift demands that researchers gain a better understanding of the type of decisions individuals are making regarding work and the basis for those decisions. The state of the economy over the past few years warrants further examination, as the economic downturn has resulted in a dramatic shift in the availability of jobs in the workforce. The current study examined the impact of the economic downturn on the emotional and cognitive processing of individuals in regard to the decisions they make about work in two separate studies (N ¼ 179 and N ¼ 82), using two measures (Perceptions of Economy [POE] scale and Work Decisions scale) that allowed us to assess economic perceptions and work-related decisions quantitatively. Results indicated support for the instruments and that POEs account for 5% of the variance in workrelated decisions.Over the past years, the declining economy in the United States has captured worldwide attention. Media headlines continue to report on the personal and societal level impact of the recent recession.

The Effect of the Economy on the Relationship Between Pay, Work, and Job Offer Attractiveness

“…Finally, applicant attraction is one important individual-level evaluation, but future research might examine the influence of the economic environment on other decisions, including job search strategies (Wanberg et al, 2020), agentic career self-management (Byington et al, 2019), contributing meaningful work to organizations (Lysova et al, 2019), emotions (Curtin, 2019), company culture, and remote versus in-work requirements. Similarly, scholars may want to include the Perceptions of Economy scale (Fouad et al, 2014) as a main variable or control when testing the effects of the economy on attitudes.…”