DENVER (KDVR) — Americans have as dismal an outlook on the nation’s economy as they did when the COVID-19 pandemic first hit.
Inflation is at a 40-year year high and Americans are feeling pinched. Gallup polling data released Wednesday shows 42% of respondents said they feel the economy is “poor.”
Gallup hasn’t recorded this level of economic alarm since April, May and June 2020 when pandemic lockdowns and business restrictions were universal.
The portion of Americans expressing doubt in the U.S. economy is coming as more and more of them feel pinched by inflation.
December polling data says 45% of Americans are seeing some level of hardship due to rising prices.
Politics, education levels and income determine how many Americans see severe, moderate or no inflation-related hardship.
People with lower education and lower income levels are more likely to say they’re squeezed by rising prices – only 29% of people making less than $40,000 say they are, while 71% of people making $100,000 or more say they’re doing fine.
The same holds true for education and political party. A majority of Americans with no college degrees say they’re having trouble, while a majority of college-educated Americans say they aren’t. A majority of Democrats are having no trouble, while a majority of Republicans say they are.