Statista’s Post

Well, finally something that our polarized (now more than ever) country actually agree on! What are the biggest challenges for the United States today? Statista's Consumer Insights show that the answer partially depends on respondents' political orientation. However, Americans on the left and the right could agree on one thing when the last survey was carried out between early 2023 and early 2024. Rising prices, inflation and the cost-of-living crisis were the most frequently picked option among all political groups. Those describing themselves as part of the political center agreed most often at 61% of respondents identifying rising prices and inflation as a major issue in the country. 51% on the left and 45% on the right also did so. While left-leaning Americans also frequently named issues of health/social security, climate change, poverty and housing as being important, center and right-leaning Americans both said that crime and the economy were the other major problems in the U.S. In general, Americans on the right didn't identify issues with as high a frequency as other political camps. So rich or poor, Democrat or Republican agree that inflation has hammered the American consumer. © Visual Capitalist, 2024. All Rights Reserved, used with permission. © Mark S. Mandula, CLO BCR Learning, 2024. All Rights Reserved.

📊 **Insights on Major Issues in the U.S. by Political Orientation** 📊 A recent survey from Statista Consumer Insights reveals a rare point of consensus among Americans of different political orientations: rising prices/inflation is the top concern across the board. However, beyond this shared worry, priorities diverge significantly: - **Left:** Top concerns include health/social security (46%), climate change (44%), and poverty (44%). - **Center:** Besides inflation (61%), crime (46%) and economic situation (45%) are major issues. - **Right:** Following inflation (45%), crime (42%) and the economic situation (41%) are key concerns, with immigration also highlighted (38%). This data underscores the complex landscape of public opinion and the varied priorities depending on political alignment. How do your concerns align with these findings? 🤔 (Source: Statista Consumer Insights, based on a survey of 60,000 U.S. respondents aged 18-64, conducted from April 2023 to March 2024.)

We’re starting to see signs of increased inequality in our survey data at Morning Consult. For example, the recent surge in consumer sentiment has been largely driven by the highest income cohort, whereas middle-income consumers are tracking more closely with their lower earning peers. This runs counter to the pre-pandemic trend where middle- and high-income earners tracked more closely together. But it’s not just sentiment where there is a growing divide: Our demand indexes, spending data, consumer debt, and labor data all show widening income disparities. I dig into it more here, including implications for the broader economy: https://lnkd.in/guX9a7jG

I have written extensively about how Americans trust in just about every single institution continues to crater to new lows never seen in the past. A recent[1] Gallup poll validated this trend, and it confirmed that Americans are less confident in major U.S. institutions than ever before, with significant declines for 11 of the 16 institutions tested and no improvements for any. In their research they found that the largest declines in confidence were 11 percentage points for the Supreme Court and 15 points for the presidency. It should be noted that Gallup first measured confidence in institutions in 1973 and has done so annually since 1993. As you can see below, confidence ranged from a high of 68% for small business to a low of 7% for Congress. The military is the only institution besides small business for which a majority of Americans express confidence (64%). Confidence in the police, at 45%, has fallen below the majority level for only the second time. Gallup summarizes Americans' overall confidence in institutions by taking an average of the ratings of the 14 institutions it measures consistently each year -- all but small business and large technology companies. This year's 27% average of U.S. adults expressing "a great deal" or "quite a lot" of confidence in those 14 institutions is three points below the prior low from 2014. As can also be seen below on the Gallup data, television news and newspapers were ranked at the very bottom of the “trust” factor by Americans in both 2021 and 2022. [1] Gallup poll data, July 5, 2022.

The previously referenced and cited Gallup poll data and charts can easily be found online, and I am only going to comment on/reproduce a small snippet of their extensive analysis in the next couple of posts. Again, please note that all text, tables, charts, and graphics are © Gallup, 2024. All Rights Reserved. The first part of their polling looks at economic conditions in the United States, and in word they are dismal. "This month, 24% of U.S. adults say economic conditions are “excellent” or “good,” while 32% call them “only fair” and 44% rate them as “poor.” Excellent or good ratings decreased by six percentage points to 24% in April, while the percentage of Americans rating the economy as poor increased five points to 44%. The net effect of these changes is that the index’s current conditions component fell to -20 from -9 in March. This drop brings the current conditions score back to where it was in January (-18)."

Middle class Americans have one thing on their minds as 2023 ends and the country prepares to enter an election year: the economy. More specifically, their own personal finances. More than their families, work pressures, health care costs, or politics, the top concern for 39% of Americans making $50,000 to $150,000 was money, according to a survey published Tuesday by investing app Stash. Survey respondents had to work at least 30 hours weekly and self-identify as either “hard-working,” “industrious,” “ambitious,” or “self-made.” Only 4% of respondents said political and social issues were their top concern Read more: https://lnkd.in/e5DCeT74

A recent nationwide survey pointed to a significant financial strain among Americans, largely attributed to rising prices and inflation. An overwhelming 82% of respondents identified increasing prices as the primary cause of their financial stress, with 75% viewing it as the biggest threat to the US economy in the next six months. This concern transcends political lines, uniting Democrats, Republicans, and Independents. The current inflation challenges also reflect scepticism about the effectiveness of President Biden's economic policies. Despite notable job growth and economic expansion in his term, only 26% of voters believe Biden's policies have improved the economy. Comparatively, a previous survey under President Trump's administration revealed a similar sentiment, with only 35% feeling financially better off. The public opinion on Biden's job performance and economic management remains divided, with significant disapproval rates. Rising prices are impacting Americans' daily lives, leading to reduced spending on essential and non-essential items. This economic strain and lack of confidence in Biden's economic approach are speculated to have potential electoral implications. In conclusion, despite positive job growth and economic expansion, the Biden administration faces the challenge of addressing rising prices and building confidence in the economy. It's interesting to observe these public sentiments and their possible impact on future elections. What are your thoughts on the matter? Feel free to share your insights and opinions in the comments below. Original article: https://lnkd.in/eEMwKWTU

Americans are frustrated and pessimistic about the #economy. In response, the White House and a number of experts are blaming...#Americans. Unemployment is down, and inflation is receding. Why aren't more Americans saying "thank you" to the President in opinion polls? I've followed the connection between economic conditions and political sentiment for more than two decades, and my colleague Ilhan K. Geckil and I shared the National Association for Business Economics (NABE) 2004 Edmund Mennis Prize for the article "Pocketbook Predictions and Presidential Elections." It's true that voters are much more likely to reward the incumbent party with votes in a presidential election when the economy is good. It's also true that Americans think about more than the economy, and are much more sophisticated than many experts apparently think. In particular, they worry about the risk of war, the dangers of crime, drift in leadership, threats to their culture, and immigration. Those are hard to identify in statistics and often messy topics to discuss, but they are important to voters. We've endured far too much elite scolding of Americans about their alleged failure to understand their own situation. Americans have the right to their own opinion about their country and their family's well being. On top of that, as this essay by data journalist Nate Silver demonstrates, the data actually explain a lot about why Americans are worried. In a better journalistic world, we wouldn't need this post by an economist willing to say something obvious but politically inconvenient. We wouldn't need essays in the The New York Times to explain to elite opinion makers that Americans aren't ignorant of their own situation. Unfortunately, we don't live in that world right now. Until we do, those with the courage to say it will have to do so: Americans aren't stupid. #honesty #humility #economy #polling #surveyresearch #consumersentiment #universityofmichigan #democracy https://lnkd.in/es6AjPTb

The 11th annual Survey of Household Economics and Decisionmaking (SHED) offers insight into the financial well-being of U.S. adults and their families & provides important information about how people are faring in the economy: https://lnkd.in/edu-5rsw     Overall, the report shows that financial well-being was nearly unchanged from the previous year as higher prices remained a challenge for most households and workers continued to benefit from a strong labor market.   In the 4th quarter of 2023, 72 percent of adults reported either doing okay or living comfortably financially, similar to the 73 percent in 2022 yet below the recent high of 78 percent in 2021. Learn more: https://lnkd.in/e5Y4V_U Read the report: https://lnkd.in/e5Y4V_U Watch a summary of the findings: https://lnkd.in/edUf8isj Access interactive data from the Board’s SHED release: https://lnkd.in/dzRFdi_n

A recent Harris poll for the Guardian reveals that nearly 60% of Americans wrongly believe the US is in a recession, with 58% blaming the Biden administration. This pervasive economic pessimism is shaping voter sentiment as the election approaches, despite positive indicators like GDP growth and low unemployment rates. Addressing this disconnect between perception and reality will be crucial for future leaders to rebuild trust and align public sentiment with economic data. #Economy #InterestRates #Government