Despite Strong Job Market, Inflation and Expenses Weigh on Public Perception of Economy
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The U.S. labor market is strong with low unemployment and rising wages, yet public opinion on the economy remains negative.
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Inflation is high, government pandemic supports have ended, and political dysfunction contributes to economic pessimism.
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Full employment means businesses must compete more for workers, resulting in complaints about labor shortages.
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Perception issues, partisanship, and negative media bias make the public feel worse about the economy than data suggests.
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People report financial security but still find major expenses like housing, healthcare, and education unaffordable.