For subscribers only: A closer look at the partisan gap in consumer sentiment

There are separate inflections in partisanship after both Obama's and Trump's elections. Are we due for another?

By almost every measure, the US economy is in a better place now than it was a year ago. That’s true for job openings, the GDP, and wage growth — among other indicators. And in many ways, today’s environment for American workers is better than it was pre-pandemic. Primarily because of a shortage of workers, but also because of changing norms around contracts and bargaining, employees have more leverage over employers than they have seemed to have in a long while.

But most of this good news seems to be happening in the background. The foreground, in contrast, is much darker. The media’s relentless reporting on inflation and supply-chain issues leaves the impression that the value of the dollar is under threat, gas prices are draining Americans’ bank accounts and families can no longer find food to put on the table. As a result of this coverage, American’s confidence in the economy is lower now than it was during the throes of the lockdown stage of the covid-19 pandemic. Here is the trend