41% of Americans approve of Trump’s handling of the economy
The country’s unemployment rate is the lowest it has been since 2001, the Dow Jones stock average has surged above 24,000, and Americans in the latest Economist/YouGov Poll express more optimism about the state of the economy than they have since Donald Trump became President.
Nearly a third (32%) say the economy is getting better. That’s higher than it has been in years, not just during this President’s time in office. Just 22% say it is getting worse.
Of course, good news on the economy should translate into good news for the President. But Americans are still worried about themselves. Only 18% say they are better off financially than they were a year ago. One in ten workers are very worried about losing their own jobs. And while the stock market has been rising, only 27% think it will continue to rise through the next year.
Economic evaluations are tinged – as they have been for years – with politics. Republicans are nearly four times as likely as Democrats to say they and their family are better off today than they were a year ago. 31% of Republicans say this, compared with only 8% of Democrats. A majority of Republicans have faith in a rising market, but only 13% of Democrats agree.
And when it comes to their assessment of the economy, partisans hold opposite views. 69% of Republicans think it is getting better, but just 7% of Democrats agree.
The President doesn’t seem to have gained much from the increase. Only 41% this week approve how he is handling the economy. Slightly more disapprove. Still, more approve of the President’s handling of the economy than approve of his performance on issues like health care (35%), foreign policy (36%), and the environment (33%). The economic approval rating remains higher than the President’s overall approval rating, which is just 38% this week.