Americans pessimistic about economy despite continued growth and low unemployment
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Americans are gloomy about the economy despite strong growth, low unemployment, and rising wages. Surveys show deep pessimism.
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Inflation has eaten into wage gains over the past couple years, housing has become less affordable, and stimulus boosts have faded.
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But job growth is strong, the stock market is near a record, and real wage growth has accelerated recently. Sentiment seems overly dour.
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Partisanship likely explains some of the negativity during a Democratic administration. Negative news coverage also skews perceptions.
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Sentiment may also just lag, as people slowly adjust to a new higher-price reality after the rollercoaster of the pandemic economy. There are signs of improvement.