- Americans are pessimistic about the economy and most feel prices are rising significantly on gas and everyday goods.
- Of a range of positive indicators, job creation and the rate of economic growth are the most compelling that the economy is improving.
- Majorities support Biden and Democrats’ new economic plan, but those who support it are frustrated with the negotiations and feel they have taken too long.
Pessimism Persists on National and Personal Economic Assessments
On a separate question, a majority of Americans say the economy “is getting worse” (53%), while just 20% say it is getting better and another 21% say it is staying the same.
Most Americans Continue to Feel the Costs of Everyday Goods Like Groceries and Gas Are Climbing
On a separate metric, two in three (64%) say they are “very concerned” the rate of inflation will climb in the coming months, including 51% of Democrats, 65% of independents, and 78% of Republicans.
As Biden’s Approval Ratings on the Economy Are Underwater, Republicans Hold Narrow Edge on Several Economic Issues
Biden and Democrats hold a narrow lead on “job creation” while Republicans are more trusted to rebuild the economy, handle economic growth, getting costs under control, and handle inflation.
Job Creation and Rate of Economic Growth Are Top Indicators For Americans That the Economy is Recovering
Among economically persuadable Americans*, the most compelling indicators are that more than 6 million jobs were created last year and that the American economy grew faster than China’s.
Reading Positive Economic Indicators Improves Ratings of the National Economy and Trust in Biden and Democrats
Of the 19% of Americans who move to rate the economy more positively after reading indicators of economic growth, demographics most likely to be in that group are 18-44 year-olds (25%), service industry workers (28%), Black Americans (24%), AAPI (24%), urban Americans (27%), and Democrats (27%).
Three in Five Support Biden and Democrats’ New Economic Plan With or Without Hearing Proposals of How to Pay for It
A plurality of independents support the plan by a 20-point margin (48% support/28% oppose).
Americans Who Support Biden’s New Economic Plan Are Frustrated and Feel Negotiations Are Taking Too Long
Nearly two in three of those who support Biden’s new economic plan say they are “frustrated” and 61% say negotiations are taking too long.
About The Study
This release features findings from national online surveys of 1,000 registered voters conducted February 3-7, 2022. Additional interviews were conducted among 101 Hispanic voters, 99 African American voters, 100 independents without a partisan lean, and 78 Asian American and Pacific Islander voters.