Standard for just over half of Americans lower than in 2020

Just over half of Americans believe they are living worse than before the presidential election in 2020, according to a new Gallup poll, with the majority estimating that the economic situation is worsening.

Exactly 52 percent of respondents believe that they and their families are living worse than in 2020, while 39 percent believe they are living better, Gallup found.

Eight percent report that their standard of living has not significantly changed.

Gallup conducted the survey from September 16 to 28 and examined perceptions of standard of living ahead of the presidential election and party differences.

The results showed that as many as 72 percent of Democrats believe they are living much better than four years ago, while only seven percent of Republicans and 35 percent of independents share this view.

The share of those who believe they are living worse is higher than usual, likely because Republicans today are significantly more inclined to such an assessment during the presidency of a Democratic president than opponents of the party that nominated the president in previous election years, notes Gallup.

Gloomy forecasts

Americans’ perception of their standard of living is traditionally linked to their assessment of the domestic economy, which is reflected in Gallup’s monthly Economic Confidence Index (ECI).

The index is based on a survey in which respondents answer whether the state of the economy is improving or worsening.

In October, the index value was minus 26 points, ranking among the worst results in election years, Gallup notes. The index recorded its lowest value during the financial crisis in 2008, at the end of President George W. Bush’s second term, when it stood at minus 72 points.

Just under half of respondents, 46 percent, believe that the state of the economy is poor, 29 percent that it is acceptable, and 25 percent that it is excellent or good.

Sixty-two percent believe that the situation is worsening, while 32 percent believe it is improving.

About one-fifth of respondents, 21 percent, believe that the main problem is the economy in general, while 14 percent cite inflation. Twenty-one percent believe that immigration is the main problem, and 17 percent point to the government.

Exactly half of respondents assessed separately that it is currently not a good time to find a quality job. Forty-four percent believe that conditions are good, the lowest since April 2021, according to Gallup data.