While a CNBC survey has found that Americans are increasingly positive about the economy, the optimism isn’t helping President Donald Trump even as the All-America Economic Survey saw several key points approach record marks.
According to the CNBC survey, 30 percent of the public are optimistic about the economy now and for the future, the first time the percentage has been that high in two consecutive quarters during the survey’s 10-year history.
Real estate agents can take note in the fact that 54 percent of Americans who think their home prices will rise in the next year. This mark represents a record and the 44 percent who believe their wages will go up in the next year is the second highest in a decade.
Americans also are in a positive frame of mind when it comes to stocks, with 44 percent of Americans believe this is a good time to invest.
However, the positive economic attitude of Americans isn’t helping Trump, who has seen his approval rating drop to 37 percent in the current survey, down from 39 percent in April.
Only 37 percent of respondents said they approve of the job Trump is doing as president, while 51 percent disapprove. And 41 percent approve of the job he’s specifically doing with the economy, while 44 percent disapprove. Moreover, the survey has found an increase in pessimism, driven by groups such as retirees, blue collar workers, and independents, including some core Trump supporters.
In a clear indication of the divide, 25 percent of those polled said the economy is improving because of Trump’s policies, while 22 percent said his policies are making the economy worse. Even his signature economic policies have suffered since the previous poll, with the gap narrowing among those who approve of his plans to cut individual taxes, cut business taxes, renegotiate trade deals and rebuild the nation’s infrastructure.
Moreover, a plurality of Americans oppose his policies on immigration, climate change and health care.
Trump’s controversial decision to leave the Paris climate accord is opposed by 57 percent in the poll and 80 percent believe it is fine for U.S. companies to try to meet the accord’s goals even if the U.S. has withdrawn.
The number of Americans filing for unemployment benefits increased slightly last week, however are still consistent with levels in a tight labor market. Initial claims for unemployment benefits increased 3,000 to a seasonally adjusted 241,000 for the week ending June 17, the Labor Department reported. Economists polled by Reuters forecast first-time applications for jobless claims rising to 240,000.
Meanwhile, 28 percent said Trump has been worse than they expected as president, while only 15 percent indicated he’s been better than they expected.