President Biden’s campaign to convince Americans to admire his management of the economy has flopped.
The public’s approval rating of the job Biden has done on the economy fell to 32 percent in the most recent poll by Gallup, close to the low of 31 percent hit last year.
This marks a significant reversal from the August poll, which showed Biden’s economic approval rating had climbed to 38 percent.
Biden has been using the word “Bidenomics” to tout what he claims are his administration’s accomplishments. So far, however, the message has not garnered support among Americans.
The poll was taken between November 1 and November 21. During that period, government data showed that the consumer price index did not rise month-to-month in October and was up just 3.2 percent for the year, nearly matching June’s 3.1 percent increase—the lowest rate of inflation since April 2021.
This suggests that even falling inflation has not improved the public’s view that Biden is mismanaging the U.S. economy.
Women are slightly more approving than men when it comes to Biden on the economy, registering a 33 approval rating vs. 31 percent for men.
Younger voters are far less approving than older voters. Among 18 to 34 year olds, Biden’s economic approval rating is just 28 percent. Among 35 to 54 year olds, it is 26 percent. Older Americans give Biden a 38 percent approval rating.
While Democrats give Biden relatively high levels of approval on the economy, at 72 percent, Biden is weak among independents, with an approval rating of just 24 percent. Just three percent of Republicans approve of Bidenomics.
There’s also a wealth gap in approval that undermines Biden’s claim that he is working to grow the economy “from the bottom up.” Among Americans earning more than $100,000 a year, Biden gets a 38 percent approval rating. Among those earning $50,000 to $100,000, he gets 30 percent approval. Among those with lower incomes, Biden’s economic approval share is just 26 percent.
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