Biden's rating falls in pace with economic slump

Biden's job evaluation is falling as fast as the public's perception of the economy. With inflation running rampant and the country thinking about a possible recession, the president's political approval is at the lowest point of his term.

Specifically, according to the latest Pew Research Center survey, only 37% of adults approve of Biden's job as president, while 62% disapprove. The president's job rating has dropped 6 percentage points since March (43%) and 18 points in the last year. In July 2021, a 55% majority approved of his job performance.

Dark economic outlook

The public's opinion of the national economy has plummeted since the beginning of the year. Today, only 13% of adults say U.S. economic conditions are excellent or good versus 28% six months ago.

A majority of the country believes Biden's policies have hurt the economy: 56% believe his policies have made economic conditions worse, compared to only 11% who believe his policies have improved the economy. About one-third (32%) say they have not had much effect. The percentage who believe Biden's policies have made economic conditions worse has increased 16 percentage points since last September.

Even Democrats do not support the president's policies. Only 20% of Democrats and Democratic-leaning independents think Biden's policies have improved the economy, while 52% believe they have had little impact and 27% say they have made things worse. Among Republicans and Republican-leaning ones, 90% believe Biden's policies have made the economy worse.

The survey reveals that only 20% of Democrats and 5% of Republicans rate the nation's economic situation as excellent or good. These views have declined substantially since January, when 36% of Democrats and 20% of Republicans viewed the economy positively.

Respondents' economic concerns are rooted in rising prices. Three-quarters of Americans say they are very concerned about rising prices for food and consumer goods. An identical proportion say they are very concerned about rising gasoline and energy prices. Majorities in nearly every demographic group say they are very concerned about rising food and energy prices.