Americans want the economic climate to change.
When inhaling smoky air under the ochre sun that has been hovering over the northeastern United States this week, it is easy to get into an apocalyptic frame of mind. Even though we are aware that this discomfort was not brought to us by a wicked god but rather by Canadian wildfires, our minds tend to jump to analogies of imminent sorrow.
“Sailors revel in the red sky at night.” The proverb reads, “Sailors take caution when the sky is red in the morning.”
For a while now, the American people have been regularly seeing a crimson sky above the economy. In spite of the unemployment rate being under four percent since January of the past year, the most recent Economist/YouGov survey findings show that Americans are quite dissatisfied with the state of the economy.
How would you characterize the current status of the economy? Let’s start with the most basic question. Only 4% think the economy is doing well. We’ll suppose that a sizable portion of those people work directly for the administration of Joe Biden or one of their green energy subsidiary departments. 17% feel the economy is “good,” putting the total favorable rating to only 22%.
A total of 32 percent of respondents on the opposite side of the ledger believe the economy is just “fair.” 42 percent of people feel the economy is “poor.” This raises the percentage of unfavorable evaluations to 74 percent.
The demographics provide an intriguing narrative. By far, individuals between the ages of 48 and 64 are the group of people who are most likely to think the economy is bad or fair. Among this group, 82% have a poor opinion of the economy. Older Americans come in second, with 75% of them holding unfavorable opinions. However, things aren’t actually a lot better for younger adults. The economy is rated as fair or poor by 69% of Americans between the ages of 18 and 29 and 68% of those between the ages of 30 and 47.
With 88% of conservatives expressing unfavorable views compared to only 64% of liberals, there is a party and ideological divide in opinions on the economy. Self-described moderates fell somewhat in the middle, with 69% of them having unfavorable opinions. In terms of party identification, this is broken down as follows: 86% of Republicans, 79% of independents, and 59% of Democrats. 92% of Trump supporters and 58% of Biden supporters agree that the economy is bad.
The opinions of various racial and ethnic groupings differ. 77% of white people and 71% of Hispanics believe the economy is fair or bad. The unfavorable appraisal proportion decreases among blacks, but only to 61%.
By the way, 77 percent of women vs 72 percent of men have a poor opinion of the economy.
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