A new CNN poll reveals that President Trump's handling of the economy has reached a historic low in approval, with a staggering 70% of U.S. voters expressing disapproval. Only 30% of respondents approve of his economic stewardship, marking a sharp decline from his first term, where disapproval never exceeded 50%.
The survey, conducted from April 30 to May 4, comes ahead of the April jobs report, which showed the U.S. added 115,000 jobs last month while the unemployment rate held steady at 4.3%. However, the Labor Department also reported that inflation surged to 3.8% in April, driven by the ongoing war in Iran, which has spiked food and energy costs. This has further eroded public confidence in the administration's fiscal policies.
Nearly 69% of respondents said they believe a recession is likely next year, with only 31% disagreeing. This marks the fifth consecutive year of negative economic outlooks, a trend that has persisted since the COVID-19 pandemic and has worsened under both former President Biden and Trump.
Americans' financial anxiety is palpable, with 54% describing their feelings as “uncertainty” and 45% as “stress.” Only 15% expressed “pride” about their financial future. The poll also found that 75% of Americans believe the economy unfairly favors powerful interests, and a similar share say it is harder to get ahead now than a generation ago, with many expecting it to be even tougher for the next generation.
Cost of living remains the top concern, with 61% of adults changing their grocery purchases to stay within budget. Nearly 45% have significantly reduced driving, and 31% have postponed medical treatment due to costs. The American dream is also fading: only 47% believe that hard work guarantees success, a 20-point drop since 2016.
The poll's findings align with other recent surveys showing growing unpopularity of Trump's economic policies. The administration's handling of the Iran war has been a key factor, as highlighted by the Iran War Pushes April Inflation to 3.8%, Hitting Trump Ahead of Midterms. Additionally, Trump's focus on domestic projects, such as the Reflecting Pool cost overrun, has done little to address economic anxieties.
The poll included 1,499 respondents and has a margin of error of 2.8 percentage points.
