Trump's Economy: Polls Collapse Amidst Rising Pessimism and Job Losses

Economic Pessimism Reaches Record Highs

• 📉 59% of Americans now believe the economy is worsening, the highest percentage ever recorded in the CBS News YouGov poll.
• 💡 This sentiment has steadily increased from 54% in July to 56% in September and 59% currently.
• 🇺🇸 Long-term pessimism is also at record levels, with 69% stating the American dream no longer holds true.

Job Market Stagnation and Business Struggles

• 🥶 The jobs market is described as a "frozen labor market" with almost no hiring outside of healthcare and AI engineering roles.
• 📉 A surprise ADP report indicated negative job growth in September, with private sector employers eliminating 32,000 jobs.
• 🏢 Smaller businesses, which are crucial drivers of the US economy and employ younger workers, were particularly affected by job losses.
• ⏳ US companies' hiring plans are at their lowest level in 16 years, according to Challenger and Gray.

Voter Concerns and Political Reactions

• 🗣️ Younger voters, while willing to give Trump some slack on immigration, still prioritize the economy and lower prices.
• 📌 The economy consistently ranks as the number one issue for most voters.
• 😟 Congressional Republicans are expressing nervousness about the economic situation with over a year until the next midterm elections.

Government Shutdown and Data Integrity

• 💸 The government shutdown is costing taxpayers $400 million a day and is seen as a distraction from the broader economic issues.
• 🚫 The delay in the official jobs report due to the shutdown is noted as convenient for the Trump administration.
• ⚠️ The withdrawal of EJ and Tony's nomination to head the Bureau of Labor Statistics is highlighted, with concerns raised about his qualifications and past actions on January 6th.
• 📊 Economists like Justin Wolfers express relief that a potentially partisan and unqualified individual was not appointed to lead the BLS.

Overall Economic Outlook

• ⚠️ A majority of Americans now expect the US economy to get worse.
• 📉 Under Trump, data indicates the economy is moving in the wrong direction, leading to widespread pessimism among both older and younger Americans.