Americans are unusually down on a solid economy. So far, they aren’t spending — or voting — like it.
Americans may be experiencing a sort of disconnect between the positives of the economy data and their own personal experiences. Although the national unemployment rate is near a 50-year low, wages aren’t keeping up with the cost of living, leaving many feeling like they’re not keeping up. On top of that, the divide between the “haves” and “have nots” continues to widen, further alienating Americans.
The data also doesn’t tell the full story. People may be assessing the same economic conditions for different reasons, from health care costs to the rise in debt and poverty.
Americans’ attitude towards the economy could also reflect their feelings towards the current administration. Data suggests that political affiliation is increasingly becoming one of the strongest indicators of economic outlook.
It’s clear that Americans don’t appear to be buying into the notion of a “solid economy.” Whether people are voting or not, their attitudes will in turn influence economic policy decisions, so it is important to take note and adapt accordingly.