On January 28, 2021 Gallup released the poll results titled “Americans’ Economic Mood Sinks for Second Straight Month.”
Notable excerpts include:
Americans’ assessments of the U.S. economy worsened in January after an even larger stumble in December, but following seven months when economic perceptions had generally shown modest improvements. The five-point decline in Gallup’s Economic Confidence Index to -21 this month puts the index at a level not seen since June.
In April, the U.S. unemployment rate peaked at a pandemic-fueled 14.8%, and Americans’ impressions of whether it was a good time to find a quality job fell 46 points to 22% as millions of workers lost their jobs. By November, the unemployment rate had improved to 6.7%, and 36% of U.S. adults said it was a good time to find a quality job. But in the latest poll, taken as the unemployment rate has plateaued, Americans’ optimism about jobs has declined to 27%.
Here is an accompanying chart of the Gallup Economic Confidence Index from 1996-2021:
The Special Note summarizes my overall thoughts about our economic situation
SPX at 3787.38 as this post is written