Just over one third of Americans, 36 percent, approve of President Donald Trump’s handling of the economy, according to new AP-NORC poll released on Sunday.
Why It Matters
Trump heavily campaigned on and made the economy a central focus early in his term. Shortly after his 2024 electoral victory, he credited his win to his policies on the U.S.-Mexico border and economy, specifically groceries.
Trump’s approval on the economy is a slight slip from the last month’s poll at 37 percent, and a further dip from a similar late August poll where 43 percent of participants approved of his handling of the economy.
The president has repeatedly announced, imposed, paused and reinstated a slew of tariffs at varying rates on U.S. trading partners to curb immigration, drug trafficking, and reduce trade deficits. Trump’s tariffs have caused the market to slump and spike, but the president has said that the policies will make Americans better off long term. In addition to tariffs, he has changed various visa regulations for American employers, which has impacted job stability and workforce concerns.
What To Know
In a survey of 1,289 adults, conducted between October 9 and 13, AP-NORC found many Americans to be largely pessimistic about their financial standings and those of the country at large, with 68 percent of participants viewing the economy negatively. Only 32 percent of participants described it is somewhat good.
One third don’t approve of Trump’s handling of the economy, according to the AP-NORC poll, whereas a recent CNBC poll, conducted between October 8-12, shows that Trump’s approval rating on the economy stands at 42 percent, with 55 percent disapproving.
The AP-NORC poll found that more than half of Americans, 54 percent, say grocery costs are a major source of financial stress for them, while only 12 percent say they are not a source. Forty-five percent cite housing costs as a major stressor, and 63 percent said they are not at all confident they would be able to buy a new home if they desired.
Regarding savings and retirement, 44 percent find the amount they have saved as a major stressor, while 52 percent are not confident they have enough savings for retirement.
Three in four adults, 78 percent, say at least one of the items—housing, savings, groceries, health care, cost of electricity and gas, taxes, and income—is a major source of stress for them.
Concerns about the economy also dipped into the job market, with 47 percent of people not confident that they would be able to find a good job if they wanted to, while 21 percent said they would.
Broadly speaking, 30 percent of Americans say the country is headed in the right direction, while 69 percent say it is on the wrong track. The poll has a margin of error of plus or minus 3.8 percentage points.
In the backdrop, both inflation and unemployment rose in August according to the Bureau of Labor Statistics, with inflation at 2.9 percent and unemployment rate at 4.3 percent.
What People Are Saying
Vermont Senator Bernie Sanders, an independent who caucuses with the Democratic Party, wrote in an X post on Sunday: “This moment isn’t just about one man’s greed, one man’s corruption or one man’s contempt for our Constitution. It’s about the wealthiest people on earth who, in their insatiable greed, have hijacked our economy & politics to enrich themselves at the expense of working families.”
Treasury Secretary Scott Bessent said on Fox Business on October 13: “I think the dirty secret here for why this has dragged on for so long is the Democratic friends in the mainstream media have been downplaying the shutdown. And this is getting serious. It’s starting to affect the real economy. It’s starting to affect people’s lives.”
Representative Don Beyer, a Virginia Democrat, wrote in a Sunday X post: “The chaos they [President Trump and Russ Vought] are causing is intentional and hurts American families, our economy, and the services we all depend on.”
White House press secretary Karoline Leavitt wrote in an October 6 X post: “Democrats have closed our government, cost Americans their jobs, hurt our troops, harmed the economy, and caused chaos all to help illegals who broke into our country. Instead of holding the illegals accountable and removing them – Democrats want to give them free benefits paid for by American taxpayers. And the Democrats are willing to harm American citizens to try to make it happen.”
What Happens Next?
The survey was taken during the government shutdown, underway since October 1, as the impasse between Republicans and Democrats in Congress continues to impact Americans.
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