Economic Problems Of The Us – Washington DC. – Concerns about the economy during the pandemic are at an all-time high, as shown by the percentage of Americans who name any economic issue the most important issue facing the United States. 26 percent of Americans now cite economic concerns such as inflation, unemployment or the economy in general.
At the height of the pandemic, the rate of economic concern as the nation’s most pressing problem is slightly below Gallup’s historical trend since 1991. In February 2009, during the Great Recession and financial crisis, the peak was 86%. Even in the past, during good economic times, it was common for more than 30% of Americans to name an economic problem.
Economic Problems Of The Us
The line chart shows the percentage of Americans who say the economy is their most important problem between 1991 and 2021. Twenty-six percent of Americans say the economy is the most important issue facing the country, the highest since January 2017, but down from 86 percent in February. 73% in March 2009 and March 1991.
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According to the Nov. 1-16 poll, Republicans (30%) and independents (29%) cited economic concerns most often when naming the most important issue, while Democrats mentioned it least often (18%). .
The most frequently cited economic issues were the economy in general (10%), inflation (7%) and unemployment (5%). Federal budget deficits, income inequality, or other economic problems such as oil or gas prices do not exceed 1%.
It’s been more than 20 years since at least 7% of Americans named inflation their top concern (April 2001). The last time the inflation rate was significantly higher was in May 1985, when it was 11%.
More Republicans (11%) and independents (7%) than Democrats (1%) say inflation is the most important issue facing the country. There are small but significant partisan differences in citing the economy as an important issue, with 13% of Republicans, 10% of independents and 7% of Democrats giving this answer.
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Inflation, or the economy in general, is not a much talked about topic. In fact, two-thirds of Americans (21%) say government is more important than the two economic issues. More Americans cite the coronavirus (13%) than any other economic issue.
Concerns about the coronavirus have eased in recent months, with summer COVID-19 cases falling from 26% in August. At the start of the pandemic, in April 2020, 45 percent of those surveyed cited the coronavirus as their biggest problem.
In the new survey, immigration (9%), unity (6%) and sexism or racism (5%) were cited as the most important issues.
The Gallup Economic Confidence Index, which measures the current state of the US economy and whether the economy is growing or improving, was -29 in November. The current value is similar to October -25, as well as the worst of the epidemic era -33, which was recorded in April 2020. Economic confidence improved at several points during the pandemic, but that improvement did not last long.
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Line Chart Gallup Economic Confidence Latest Trend. The index dropped from +41 before the disease to -33. It started reaching -1 in November 2020 and then fell back in December and January. Confidence increased again between February and June 2021, but has since declined, currently standing at -29, the lowest since -33 in April 2020.
The index theoretically has a +100 if all Americans rate the current economic conditions as good or good and say the economy is improving, and if all Americans rate the current economic conditions as poor and say the economy is good, the index is + 100 rank. Bad it could be worse. A negative score like this month’s indicates that Americans are generally more pessimistic than optimistic about the economy.
Much of the current pessimism stems from the fact that Americans believe the economy is getting worse (70%), not better (26%). In June, Americans were divided about their economic outlook.
The line chart is the latest trend in American economic outlook. In January 2021, 26% of American adults think the economy is getting better, and 70% think it’s getting worse. For most Americans, the pandemic means the economy is getting worse, not better, but it’s spread evenly between March 2021 and June 2021.
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Americans also judge the current economic situation more negatively than positively — 36 percent say it’s “bad” and 22 percent say it’s “good” or “excellent.” The remaining 42% describe the conditions as “fair”. From April to August this year, Americans were more positive about the economic situation.
The bar chart shows the latest trend in Americans’ assessment of their current economic situation in November 2021. Twenty-two percent of American adults say the current economic situation is fair or good, and 36 percent say it’s bad. Before the onset of the disease, most people evaluated it more positively than negatively. Since the beginning of the pandemic, most Americans have evaluated the current economic situation negatively, except in the first months of the pandemic, from April to June 2020 and from September 2021.
Last year’s economic recovery was uneventful from the brief recession associated with COVID-19. Economic growth, measured in gross domestic product, slowed in the third quarter after a strong second quarter. The latest unemployment report showed a strong increase in job numbers after several months. However, rising inflation and a shortage of labor and supplies are hampering economic activity. When Americans add it all up, they rate the economy more negatively than positively.
People consider the economy to be the nation’s most important issue, even though it is much less than it used to be. Americans also rate President Joe Biden slightly lower on his handling of the economy, and his overall approval rating is only slightly better.
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Americans’ overall negative assessment of the economy indicates that the economy’s weaknesses—inflation and deficits—weighed more heavily than positive aspects in their assessments. As such, increasing Biden’s ability to navigate the economy and the overall rate of employment appears to depend on his ability to manage inflation and manage the deficit if strong parts of the economy remain on track.
Gallup’s poll results are based on telephone interviews with a random sample of 815 adults age 18 and older in the 50 US states and the District of Columbia between November 1 and 16, 2021. For results based on the entire national sample of adults, the sampling error is ±4 percentage points at the 95% confidence level. All sampling error reports include design effects calculated for weighting.
Each national sample of adults consists of 70% cell phone respondents and 30% landline respondents, with additional minimum quotas for each time zone in the region. Landline and mobile phone numbers are selected using random digit dialing methods.
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