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Nearly 3 in 5 incorrectly believe US is in economic recession (fox59.com)

submitted 1 year ago by mozz@mbin.grits.dev to c/politics@beehaw.org

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Fascinating little window

Almost 60% of respondents wrongly believe that the country is in a recession (it hasn’t been since 2020)
55% believe the economy is shrinking (it is growing)
49% say unemployment is at a 50-year high (it’s close to a 50-year low)
58% said the reason the economy is worsening is due to Biden’s mismanagement

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[–] HuddaBudda@kbin.social 13 points 1 year ago (4 children)

Question, why are we linking fox 59, when the hill has the same article word for word?

Second, why are we being told we are wrong? By what metric are we incorrectly measuring?

Forty-nine percent of respondents say unemployment is at a 50-year high, though it’s actually close to a 50-year low at less than 4 percent.

Please stop pretending that just because people are employed that they are not working harder then ever before to stay afloat. It is disingenuous at best.

The NBER said the most recent recession coincided with the start of the COVID-19 pandemic, and the U.S. hasn’t been in one since.

Getting out of a recession does not mean people did not have to make hard choices with their finances during that time.

Just because we are pulling out of the Covid craze, does not mean that the average household has rebounded.

People had to uproot their lives and won't feel the effect of good policy until well down the line.

[–] mozz@mbin.grits.dev 9 points 1 year ago

            
              Dude fuck the hill
IDK why inflation-adjusted wages at the main quartiles isn't the main metric and the first significant metric everyone looks at. If I had to pick one set of numbers for "the economy," that would be it.

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