(GALLUP) Half say they’re worse off than last year; worst number since Great Recession

The following is an excerpt from Gallup News.

Reflecting on their personal financial situations, 35% of Americans say they are better off now than they were a year ago, while 50% are worse off.

Since Gallup first asked this question in 1976, it has been rare for half or more of Americans to say they are worse off.

The only other times this occurred was during the Great Recession era in 2008 and 2009.

The latest results are based on a Jan. 2-22 Gallup poll.

They follow a year of persistent high inflation, with the highest inflation rates since 1982. Stock market values declined and interest rates rose in 2022, but, on average, personal wages increased substantially.

In both 2021 and 2022, Americans were evenly divided between saying they were better off versus worse off, including a 41% to 41% split in last year’s survey.

By contrast, before the pandemic in January 2020, Americans were almost three times as likely to say they were better off (59%) as worse off (20%). The 59% reading is one of the highest in Gallup’s trends, along with a 58% reading in 1999.

Lower-Income Americans More Likely to Say They Are Losing Ground

Most lower-income Americans, 61%, say their financial situation has deteriorated over the past year, while less than half that number, 26%, indicate it has improved.

Middle- and upper-income Americans are also more likely to say they are worse off than better off, but by much narrower margins than seen among the lower-income group.

Many more lower-income Americans this year say they are worse off than said so last year (41%).

Upper-income Americans are also more likely to say they are worse off now (by 10 percentage points), while middle-income Americans’ results are similar to last year’s survey.

Read more of Gallup’s polling results here.

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1 thought on “(GALLUP) Half say they’re worse off than last year; worst number since Great Recession”

  1. Sharyl this article ?. I got a New idea to the Republican party to bring to the House floor, For Vote that will better work towards shoring up the National debt while protecting future Social programs, Fixing a lot of past 30 year problems with Businesses and American citizens being taken advantage of . In this Year of 2023 you’d almost be crazy in not seeing it’s Futures in potential in Fixing a lot things in Terms of Futures Economics in the World today ?. Your Going to Love IT !. ( Tell us about it ! ) Everybody in the World knows how much cyber crimes cost the U.S.A. and Businesses who gets locked out of there Computers in Ransomware and Malware every year as Well as the American people Right, ” Right !. This Idea involves A Whole New approach that I believe needs to be Funded through a New department within the Federal Trade Commission linked into the FBI, IC3 department. = A Whole new multi-devices App’s online platform Technologies = V.P.A.I.S. [ Virtual Private A.I. System Servers ] Example; You would have A Whole New all in one Free issued App for your devices by the F.T.C. that is linked into Virtual Private A.I. servers unlike other V.P.N. ( Artificial Intel Monitors ) Servers protecting Businesses and Americans while stopping the bad online guy’s and Collecting New Taxes from Data companies making money off of your Children clicking on stuff 24/7 as well as 3rd parties Violating your 3rd party App’s privacy settings, while monitor for Malicious code changes with it’s New A.I. servers. It’s Time for the United States to start Collecting taxes from the people and Tech companies and other Data Brokers taking advantage of others making big money hiding in online background activities as well as a new systems for fighting cyber crime activities, costing this country Billions every year from economic losses and deficits..I think this idea is moving towards a better economic road for the U.S. all around in Fairness.. ” The Summit of knowledge is only bound by the energy used to create it _ Wm. Andrews Here at “Area 15 Indiana ” Rochester, IN. ( Just a Funny suggestion =This New Gov system App idea could have a picture icon showing Harry Truman with two raised eyebrows and smiling Ear to Ear ??? ) FYI = DO NOT Let the Big Tech companies put this New system together they are Bad and corrupt at engineering stuff, trust me a word to the Wise ?

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