Global Strategy Group is excited to share the latest installment of our Eye on the Economy research series. This report looks at voters’ changing perceptions of the economy, personal financial challenges, and what government action on the economy would mean to voters.
Key findings include:
- Where we are today. While a lot has changed since GSG’s Eye on the Economy report last June, voters’ economic perspective remains dire. Today, 7 in 10 voters rate the current economy as poor, a majority believe we are heading in the wrong direction, and many are pessimistic about progress being made in the next year.
- What drives perceptions. Inflation continues to dominate as a top issue. That, along with wages keeping up with the cost of living, is gaining importance with voters. While voters believe inflation and the cost of basic necessities have gotten worse (and will continue to get worse), more voters are now saying they are able to afford those same necessities.
- Voters’ market outlook. Half of voters are concerned that they or someone they know will lose their job in the next few months. Despite feelings of job insecurity, a majority of voters believe now is a good time to look for work. Meanwhile, 2 in 3 voters say it’s a bad time to buy a house – a potentially long-term outlook as less than a quarter believe housing costs in their area will decrease in the next year.
- Government & the two parties. Fewer voters believe the economy is in free fall or that fixing the economy requires major intervention. However, voters across the board think there is opportunity for government to do more. Inflation should not be a deterrent to economic action, as a wide range of potential government initiatives are not seen as inflationary by the majority of voters.
- The economy voters want. Voters agree that a strong economy hinges on providing an affordable cost of living and a healthy manufacturing industry. Nearly half of voters believe an economy that puts middle class families first is most important, and 45% of voters trust Democrats to deliver that economy vs. only 31% who say the same of Republicans.