WASHINGTON (AP) — The unemployment rate is healthy and the stock market is up, but Democrats are feeling more pessimistic about the U.S. economy after Donald Trump’s election victory, according to a new poll.
Republicans, meanwhile, are still dour about the current state of the economy but hopeful that growth will be stronger next year when Trump returns to the White House as president.
The latest survey from The Associated Press-NORC Center for Public Affairs Research suggests that some Americans are evaluating the economy more by who holds political power than on what the underlying trends suggest. This was a persistent challenge for President Joe Biden that Trump appears to be inheriting — and it raises the possibility that Trump, too, might struggle to translate his economic policies into political wins.
About 7 in 10 U.S. adults rate the country’s economic state as very or somewhat poor, up slightly from about 6 in 10 in October. Self-identified Democrats are primarily driving the recent negativity. About 6 in 10 Democrats described the U.S. economy as “good” in October. With Republicans on the verge of controlling the executive and legislative branches, only about half of Democrats say that now.
“Next year, if Trump gets his tariffs, prices are going to go up and things are going to be more costly,” said Karen Claussen, 77, who lives in suburban Columbus, Ohio, and voted for Democrat Kamala Harris in November’s election. “I don’t see any hope right now. No, I’m very worried.”
The long-standing pessimism about the economy reveals a disconnect between the traditional measures used to judge performance and how people are feeling.
The unemployment rate is a healthy 4.2% as hiring continues to be solid. Inflation has fallen from its 2022 peak, yet progress has stalled in recent months. The stock market was already up under Biden and has further increased since the election in anticipation of Trump’s promised tax cuts and efforts to curb regulations.
Perhaps because the poll was conducted with Biden still in office, just 16% of Republicans say the nation’s economy is good right now. But they see positive change on the horizon: About 7 in 10 Republicans say 2025 will be a better year than 2024 for the U.S. economy.
In the November election,
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