Recent economic data from the Federal Reserve Bank of St. Louis went viral showcasing economic disparities for Americans between the Trump and Biden administrations. MIG Reports analyzed voter commentary to identify sentiment patterns and reaction trends.

What Americans are Saying

When comparing economic strains under the Biden administration versus the Trump administration, it's important to consider consumer prices, household net worth, and discussions involving taxes.

Consumer prices as measured by the Consumer Price Index, a measure of the average change over time in the prices paid by consumers for goods and services, have illustrated a rising trend with inflation. Between the two administrations, the American public has witnessed a noticeable shift in inflation rates under Biden.

As for household net worth, which is a measure of the value of all assets, minus the total of all liabilities—there is a mixed view. Changes in household net worth are not only determined by economic policies but also influenced by a variety of other factors like changes in property values, stock market performance, savings rates, debt levels, and more.

Generally, the housing market has seen significant increases, as has the stock market. However, disparity remains, as not all Americans hold assets in the form of property or stocks. Regardless of individual situations, both the housing and stock markets performed better during Trump’s administration.

Americans are also discussing day-to-day costs and are vocal about their tax obligations under Biden's administration. There are common concerns about taxation fairness, particularly concerning churches that engage in political expression, mega-churches, and big corporations. By contrast, Trump was often touted as the president for deregulation and tax cuts, particularly with the 2017 tax reform which lowered corporate tax rates. However, critics argued this increased wealth disparity.

Household Net Worth

During Trump's presidency, some Americans expressed optimism about lower taxes and the benefits to business owners and wealthy investors. Trump’s promise to reduce taxes was welcomed by those who view it as an incentive for economic growth and personal wealth accumulation. Some commend wealthy business owners under Trump's leadership, acknowledging their roles in job creation and charity donations.

Under Biden's presidency, discussions around wealth have also centered on taxation but with a different tone. People express concerns about increased taxes and their impact on personal and corporate wealth. This sentiment is particularly pronounced among the wealthy and business owners who claim they are unfairly targeted by higher tax rates.

The discourse also includes those championing higher taxation for the rich as a means of wealth redistribution. Some argue the wealthy and corporations should pay more taxes to fund government projects and programs that benefit the wider populace.

Many American voters express views about illegal immigrants and their impact on the economy. Some support amnesty for illegal immigrants, arguing they could contribute more substantially to America's tax revenue, however a consistently growing number of Americans disagree.

This study of online conversations gives a sense of the current mood and concerns of Americans. Perspectives for Americans of their economy under Biden and Trump consider and reflect multiple factors, including consumer price index, household net worth, day-to-day living expenses, and taxes. Notably, former President Trump gives Americans more confidence in all aspects.

Recent reports of increasing credit card debt and delinquencies are indicative of continuing economic hardships for Americans. Debts are reaching higher highs in quarterly reporting for both Q4 2023 and Q1 2024. Specifically, delinquency is increasing for maxed‑out borrowers. There’s a feeling of unavoidability towards debt in MIG Reports data, which also shows increased discussions over time with a decrease in sentiment.

On the topic of personal finances, which includes credit card debt and late payments, there are numerous viewpoint trends and demographic patterns.

What Americans Are Saying

Discussion trends mainly orbit around the surge in prices, especially for consumer goods like food and fuel. Most Americans say these significantly contribute to their financial distress. Inflation realities, rising housing prices, and cost of living are prominent in these discussions.

Terms like “inflation” and “corporate greed” frequently appear in voter discussions, indicating dissatisfaction with the current economic situation under Biden’s administration.

General sentiment within these discussions leans negative. Most people express frustration, anxiety, and dismay over rising costs. They also decry the lack action by corporations and the president.

A noteworthy pattern across multiple discussions is the relationship between price rises and political leadership. Many voters routinely blame the political establishment for their financial woes – especially the current administration. However, a very vocal segment of voters denies any correlation between the two.

Demographic Trends

Rising costs and financial struggles are a common conversation across age groups and socioeconomic status. Detailed nuances between demographic patterns aren't explicitly clear from the data. However, recurring references to Joe Biden and swing states, suggest a potential geographic pattern of swing state voters feeling a greater impact from rising prices.

There are many mentions of credit card debt rising, indicating Americans’ increasing reliance on credit to manage their expenses. Late payments on car loans, rent, or mortgages, indicate increased financial distress for many demographic groups.

Those in lower-income brackets or in precarious work situations might be hit harder by the rising costs of essential items like food and energy. Similarly, demographics living in areas where housing prices are falling, amid an inflationary economy, may find themselves struggling with contradictory economic pressures more than their counterparts in other states.

Consumers sometimes blame corporate greed for price hikes, linking increased profit margins for large supermarkets to inflation. This is also a talking point frequently presented by the Biden administration, suggesting voters should place more blame on corporations than on politicians. Others feel increased prices are a result of improved quality, indicating a split in sentiment regarding the cost of goods.

News of 86-year-old Klaus Schwab’s plan to step down from his position at the WEF has generated discussion among Americans who have been following global economic issues and the alleged “Great Reset.” Schwab, also known as “Davos Man,” is the founder and executive chairman of the World Economic Forum. He has been a central figure in shaping its vision and activities since he founded it in 1971.

The World Economic Forum (WEF) is an annual gathering of global elites in Davos, Switzerland. It has long been a focal point for discussions on international economic policies, technological advancements, and social issues. However, it has also become a lightning rod for criticism, especially among American voters who are skeptical of globalist agendas.

Many American voters are suspicious, viewing the WEF as an elitist organization which lacks transparency and accountability. This sentiment is often fueled by the perception that the WEF prioritizes the interests of the global elite over those of ordinary citizens.

Views of Klaus Schwab

Klaus Schwab’s leadership style and public statements have made him a polarizing figure. While a few admire his foresight and commitment to global cooperation, most criticize his perceived elitism and advocacy for policies that infringe on national autonomy and personal freedoms.

Some of the reactions include:

• "With Schwab retiring, does this mean we can finally upgrade from 'you'll own nothing' to 'you'll own a little bit'?"
• "BREAKING: Klaus Schwab to spend retirement knitting sweaters for underprivileged billionaires."
• "Klaus Schwab retiring? Guess the WEF will just have to find another Bond villain look-alike."
• "Klaus Schwab retiring? Sounds like a distraction. What's the next move, Illuminati?"
• "Schwab's retirement won't change anything. The WEF will just replace him with another puppet pushing the same agenda."

Schwab’s retirement could lead to significant changes in the WEF’s direction and priorities. New leadership might adopt different approaches to global issues, potentially altering the forum’s influence on international policy.

Supporters of Schwab and his vision may be concerned about continuity and whether the new leadership will maintain the same commitment to issues like climate change and economic inequality.

Many others, however, view Schwab’s retirement as a positive development. They hope new leadership will steer the WEF in a different direction or reduce its influence significantly. There are some voices who express a desire to see the WEF completely lose all influence on the world stage.

Globalists and World Domination

Most Americans who are aware of Klaus Schwab and his globalist initiatives criticize the WEF as an elitist organization. They say it is disconnected from the needs and concerns of ordinary people. This view is held among both conservatives and progressives who object to centralized or excessive corporate power.

The WEF's focus on globalism and its influence on international policies has led many Americans to view it negatively. They argue it promotes policies that undermine national sovereignty and prioritize international agendas over local needs.

Announcements about Klaus Schwab's impending retirement have elicited mixed reactions. Some critics see it as an opportunity for the WEF to reform, become more transparent, or even dissolve. Supporters worry his departure could lead to uncertainty and instability within the organization.

A prevalent theme in Americans discussions is the belief that globalist policies benefit multinational corporations and the wealthy at the expense of middle and working-class people. Average Americans view figures like Klaus Schwab and George Soros as seeking power and even world domination through surreptitious means.

The WEF’s emphasis on global trade and open borders is often seen as a direct threat to American jobs, particularly in manufacturing and other blue-collar sectors. This is particularly salient among voters who support "America First" policies and advocate for stricter immigration controls and protectionist trade measures.

A common refrain many Americans cite in criticism of the WEF is its suggestion that people will “own nothing and be happy.” This, many say, is antithetical to Western values and the American dream.

Populist rhetoric often highlights the disparity between the wealth of the global elite and the economic struggles of ordinary Americans. This discourse is sometimes a point of agreement between conservatives and progressives in that both groups believe the wealthy and large corporations take advantage of average taxpayers.

Fears About the Great Reset

The Great Reset, an initiative launched by the WEF, aims to address global economic disparities, environmental sustainability, and societal challenges through a comprehensive restructuring of global systems. This initiative gets mixed reactions among Americans, often divided along ideological lines.

Many American voters view the Great Reset with skepticism and distrust. This sentiment is often rooted in concerns about sovereignty, individual freedoms, and economic autonomy. These voters worry the Great Reset represents an overreach by political elites seeking to impose a one-size-fits-all solution to undermine national interests and local governance structures.

Many conservative and right-leaning voters are particularly wary of the Great Reset. They perceive it as an attempt to centralize power in unelected global institutions. This group is also concerned about potential infringements on personal liberties and market freedoms.

There is fear the Great Reset would lead to increased regulation and taxation, stifling economic growth and innovation. People view the emphasis on sustainable development and climate change as a pretext for imposing burdensome regulations to harm traditional industries, particularly in sectors like energy and manufacturing.

Many viewed the WEF’s influence during COVID as a demonstration of the risks of trusting globalist elites with issues which have domestic impact. Many pointed out the dangers of global interdependence and continue to advocate for a return to more isolationist policies.

There is also a segment of American voters who occupy a middle ground, neither fully endorsing nor outright rejecting the Great Reset. A likely reason for this is a lack of awareness about the WEF and its initiatives.

Leftists and Progressives Support Globalism

The only obvious segment of Americans who support the WEF are Progressives who subscribe to a globalist view.

This group often emphasizes the importance of transitioning to a green economy and implementing policies that promote social equity. They argue the initiative offers a unique opportunity to build a more resilient and inclusive global economic system.

They see WEF initiatives as ushering in economic opportunities, technological innovation, and sustainable development. They appreciate the forum's role in bringing together business leaders, policymakers, and academics to address global challenges collaboratively. Voters who prioritize environmental sustainability and social equity often align with the WEF’s advocacy for the United Nations' SDGs.

Some liberal voters, however, critique the WEF for being too aligned with corporate interests. Despite the forum's progressive rhetoric, they worry it may not do enough to challenge entrenched power structures and economic inequalities.

A recent study examining the spending behaviors of 42 million Americans using Supplemental Nutrition Assistance Program (SNAP) benefits has sparked reactions from voters. The study reveals purchasing patterns and elicits strong sentiments and opinions across demographic lines. MIG Reports analysis delves into these discussions to understand patterns, sentiments, and who is to blame in the minds of different demographic and political groups.

Most Discussed Aspects of SNAP

Food Choices and Nutrition

The study reveals SNAP recipients are not primarily spending their benefits on nutritious options like broccoli. This has triggered broad debates about the effectiveness of the program. Some emphasize the necessity for better nutrition education and stricter guidelines on eligible foods.

Discussions about the 2024 Farm Bill highlight concerns about potential slashes to SNAP benefits and changes that could weaken the nutritional content of school meals. There is significant focus on the balance between providing sufficient nutrition and managing the costs of these programs.

Affordable Housing

Many people link the need for food welfare to the broader issue of affordable housing. Many argue the high cost of living, particularly in areas like Hudson Yards and Northern Virginia, exacerbates people’s inability to afford food.

Calls for affordable housing are prevalent. Some reference local and federal government responsibilities in increasing housing provisions for low-income families, veterans, and aging Americans.

Political and Economic Blame

The conversation is heavily polarized along political lines. Republicans and Democrats both cast blame on each other for the current state of SNAP and the need for food welfare. For instance, some blame Democratic policies for creating a dependent society. Others criticize Republican-led states for misappropriating funds meant for low-income families.

There is also a sentiment that large corporations, like Walmart, despite paying higher wages, are part of the problem. Some say this is due to economic inequalities in red states.

Negative Sentiment

Much of the online conversation is negative, particularly around the perceived inefficacies and mismanagement of SNAP. Terms like "crippling taxation," "misappropriating funds," and "food stamp president" suggest a widespread dissatisfaction with current policies.

There is frustration over the perceived lack of action from politicians. People say things like “every politician in DC has lost credibility” reflecting a deep distrust in the desire to address these issues effectively.

Positive Sentiment

Some positive sentiments exist about potential policy changes. Some advocate for increased funding and support for low-income communities. Celebratory remarks about Democratic presidential candidates and infrastructure bills that benefit low-income states show voter desire for future reforms.

Who is to Blame?

Political Affiliations

Republicans often blame Democratic policies for making citizens overly dependent on government aid. They argue policies should aim to reduce dependency and promote self-sufficiency.

Democrats criticize Republican-led states for failing to adequately support low-income communities and for mismanaging federal funds meant for these groups. They highlight the need for more robust support systems and infrastructure.

Regional Differences

Discussions suggest a stark contrast between urban and rural perspectives. Urban areas emphasize the need for affordable housing and criticize uncontrolled development that drives up living costs. Rural areas focus more on the immediate A food stamps study on how 42 million Americans utilize SNAP benefits has unveiled a complex web of concerns and criticisms.

Sentiments around food stamps are largely negative, reflecting widespread frustration and distrust in the political system.

As the 2024 Farm Bill approaches, these discussions underscore the urgent need for bipartisan solutions that genuinely address the root causes of welfare needs.impacts of inflation and the availability of SNAP benefits.

Socioeconomic Status

Lower-income groups express a sense of abandonment by the political system, feeling neither side truly addresses their needs. The elderly and veterans are particularly vocal about the inadequacies in support for affordable housing and food.

Red Lobster’s sudden bankruptcy announcement and restaurant closures sparked various reactions from American diners. People express disappointment, nostalgia, and overarching economic concerns. MIG Reports explores sentiments, demographic patterns, topics of conversation, and potential third-order effects resulting from the news.

What Americans Are Saying

Disappointment and Nostalgia

Many Americans shared memories and emotional attachments to Red Lobster, often tied to family gatherings and special occasions. Red Lobster is often seen as a staple of Americana, and its closure is perceived as the loss of a cultural icon.

Economic Concerns

There's significant concern about the employees who will lose their jobs, many of whom are part-time workers, students, or from lower-income backgrounds. Communities where Red Lobster restaurants were a significant employer or attraction are worried about the broader economic impact on small local businesses that relied on Red Lobster for foot traffic.

Corporate Responsibility

Some criticize the corporate decisions leading to Red Lobster’s bankruptcy, discussing how closures could have been mitigated. There are calls for the company to support displaced workers through severance packages or job placement programs.

Consumer Choice and Dining Options

Some consumers express concern over their dining options shrinking, particularly in smaller towns where Red Lobster might have been one of the few sit-down restaurants. Many are also discussing possible alternatives, such as other seafood restaurants or different types of cuisine.

Demographic Group Reactions

Age Groups

Older adults, particularly Baby Boomers and Gen X, express more nostalgia and emotional attachment to Red Lobster. Millennials and Gen Z are more focused on the economic implications and job losses.

Geographic Distribution

Urban areas have more dining alternatives, so the impact is less severe. Rural areas show greater concern due to fewer dining options and more significant local economic impact. Coastal areas, where seafood is a more significant part of the local diet, are particularly affected.

Socioeconomic Status

Lower income groups are concerned about job losses and economic impacts on their communities. Those who already struggle to afford food may also lose their jobs if more businesses continue to close. Middle to upper income groups are more focused on the nostalgic and cultural loss.

Potential Third-Order Effects of Red Lobster’s Bankruptcy

Shifting Dining Trends

One hope that some express over a chain like Red Lobster closing is the potential increased patronage for local, independent seafood restaurants. Other dining establishments may gain Red Lobster customers, leading to a potential boost in local businesses. Consumers may also shift towards cooking seafood at home due to rising restaurant costs, boosting sales in grocery stores and seafood markets.

Labor Market Adjustments

Displaced workers will increase competition in the job market, particularly in the food service and hospitality industries. Workers may seek to diversify their skills, leading to an uptick in enrollment in vocational training programs.

Community and Economic Development

Heavily impacted communities might focus on diversifying their local economies to reduce dependence on any single employer. There may be increased demand for social programs and community support initiatives to help displaced workers and their families.

Corporate Reputation and Consumer Trust

The abrupt closure may lead to a loss of trust in corporate chains, pushing consumers towards businesses perceived as more stable and community focused. Former Red Lobster patrons may transfer their loyalty to other brands, impacting the competitive landscape in the food service industry.

Kentucky Rep. Thomas Massie recently garnered attention by introducing a bill aimed at abolishing the Federal Reserve, calling it the "End the Fed" bill. The bill sparked a range of reactions among voters and political commentators.

A poll Massie posted on X attracted more than 115,000 participants with 86.6% responding in favor of ending the Federal Reserve. Massie’s announcement of his bill the following day then sparked energy and excitement among anti-establishment voters.

Should I introduce a bill to abolish the Federal Reserve?

— Thomas Massie (@RepThomasMassie) May 15, 2024

Arguments Against the Federal Reserve

Many Americans argue abolishing the Federal Reserve (Fed) would restore economic control to individuals and states. There is a strong wish that ending the Fed would also lead to the abolition of federal taxes, allowing states to manage their own financial affairs better.

Much of the conversation centers on the idea of returning to the gold standard, suggesting many supporters believe in the intrinsic value of gold over fiat currency. Vocal cryptocurrency supporters also frequently speak up in favor of abolishing current financial systems, including the Federal Reserve.

Some voters draw parallels between the current financial system and historical examples of debased currencies, say it reminds them of, “Rome nipping off pieces of silver from every tax coin."

Support for Massie’s End the Fed Bill

Libertarians and fiscal conservatives form a significant base of support for Massie's bill. These groups have long criticized the Federal Reserve for its role in monetary policy, which they believe contributes to inflation, economic instability, and undue government influence over the economy.

Most libertarians see the Federal Reserve as an unconstitutional entity which distorts free-market economics. They draw parallels between Massie and Ron Paul, a former congressman known for his staunch opposition to the Fed.

There are vocal accusations that the Fed only serves the interests of the wealthy elite at the expense of ordinary citizens. Many also feel completely helpless and at the mercy of runaway inflation – a subject which plays into larger negative sentiments about the economy and jobs.

Massie's supporters often express disillusionment with the Federal Reserve's recent actions, such as printing stimulus checks and raising interest rates. They see the bill as a necessary step in addressing what they perceive as financial mismanagement and economic manipulation.

Apprehension About the Bill’s Practicality

While some moderate conservatives are sympathetic to the notion of reducing Federal Reserve power, they express concerns about the practical implications of abolishing the institution.

This group questions what would replace the Federal Reserve and who would manage interest rates and monetary policy in its absence. Rather than total abolition, they advocate for significant reforms to increase transparency and accountability within the Federal Reserve.

Those who express skepticism or seek further clarification about the implications of abolishing the Fed frequently ask questions like:

• "What will Ending the Fed do?"
• "Who would set interest rates after the Fed is abolished?"

These voters are not necessarily opposed to Massie's proposal but are concerned about the practicalities and potential fallout of dismantling such an entrenched institution.

Opposition to Ending the Fed

Many voters who support government institutions are deeply skeptical or outright opposed to the "End the Fed" initiative. They often cite concerns about economic stability and the lack of viable alternatives.

This group fears abolishing the Federal Reserve could lead to economic chaos. They argue that while the Federal Reserve is not perfect, it plays a crucial role in managing the economy.

However, some critics emphasize the need for a more informed debate on the issue. They suggest proponents of the bill lack a deep understanding of economic history and the complexities of monetary policy.

The Biden administration has introduced new guidelines for the implementation and regulation of Artificial Intelligence (AI) in the workplace. These guidelines are presented as ensuring ethical practices, fairness, and transparency in AI technologies.

Many Americans view AI as a powerful tool for driving efficiency, innovation, and economic growth. Proponents argue it can automate mundane and repetitive tasks, freeing employees to focus on more creative and strategic aspects of their jobs. This perspective is particularly prevalent in sectors such as tech, healthcare, and finance, where AI applications are seen to enhance productivity and decision-making processes.

However, many American workers express concern about job displacement due to AI and automation. This anxiety is most acute among workers in industries susceptible to automation, such as manufacturing and retail.

Overall, American perspectives on AI in the workplace seem to contain optimism, fear, skepticism, and pragmatism. While many see AI as a catalyst for innovation and economic growth, there are valid concerns about job displacement, ethical implications, and the complexities of regulation.

Response to Biden Administration Guidelines

Some voters, often progressive or Democrats, view the Biden administration's AI guidelines as a necessary step towards modernizing the workplace while safeguarding workers' rights. Supporters argue these guidelines will:

• Minimize systemic bias in AI-driven hiring processes, ensuring fairer and more DEI compliant outcomes.
• Push companies to safeguard personal information in an increasingly digital world.
• Mandate companies to disclose how AI systems make decisions affecting workers.
• Foster innovation while ensuring ethical standards are maintained.

However, not all Americans are convinced of the efficacy or intentions behind the White House guidelines. Critics raise concerns like:

• The feasibility of enforcing guidelines across diverse industries with varying levels of AI integration.
• Government overreach which could stifle innovation and burden companies with excessive hoops and regulations.
• The possibility that AI systems may perpetuate woke biases, as many believe these biases are coded into AI algorithms.
• Various economic implications which could increase operational costs and slow down technological adoption.

Public understanding of AI technology and its implications is still evolving. Some call for increased education and awareness campaigns to help Americans better grasp the significance of these guidelines. This could potentially shift public opinion as more people become informed about the advantages and challenges associated with AI in the workplace.

Worker Concerns About AI

Economic considerations play a significant role in shaping public opinion. Many Americans worry about the economic impact of AI on job security and wage levels. Among more progressive of Democrat voters, there is an apprehension over AI exacerbating income inequality. They believe high-skill workers benefit from new opportunities while low-skill workers face job losses and wage suppression.

There are also debates about the ethical implications of AI decision-making in areas such as hiring, performance evaluation, and employee surveillance. Some Americans are wary of AI systems making critical decisions which could affect their livelihoods without adequate transparency and accountability. This concern seems to penetrate across political lines.

Many Americans also express concerns about the erosion of human interaction in the workplace due to AI. They fear an increasing reliance on AI-driven tools and processes could diminish the personal touch crucial to customer service, healthcare, and other sectors that rely heavily on human empathy and communication.

AI Bias and Ethics

More conservative critics argue that AI technologies, particularly those developed by major tech companies and academic institutions perceived as liberal leaning, are inherently biased towards "woke" ideologies. These critics claim AI systems prioritize social justice themes such as diversity, equity, and inclusion over accuracy and objectivity. They cite examples like Google’s Gemini, which received significant backlash for its woke intervention in user prompts.

Developers and liberal proponents of AI argue efforts to make AI inclusive and fair are necessary to prevent the perpetuation of historical biases. They maintain coded bias is not about pushing a particular ideology, but about ensuring AI systems serve all segments of society equitably.

The discourse around Biden's AI guidelines often intersects with broader cultural and ideological tensions. The term "woke" is frequently used pejoratively by those who believe the guidelines reflect an overemphasis on social justice issues at the expense of practicality and effectiveness. Many critique societal shifts towards inclusivity and diversity, which they perceive as undermining traditional values and meritocratic principles.

The polarized responses highlight a broader crisis of trust among Americans. There are AI supporters and skeptics across political lines, however concerns emphasize different issues. Liberal supporters of AI worry about equality and worker displacement. Conservative AI proponents worry about surveillance, AI bias, and government control.

The Department of Labor’s May Jobless Claims report revealed the highest level of jobless claims since August 2023. This news has triggered a broad spectrum of reactions and discussions across different demographic groups and political affiliations. MIG Reports analysis of the conversations highlight varying levels of confidence in political leadership. There is a pronounced contrast between supporter for President Joe Biden and former President Donald Trump.

Demographic Patterns

Younger demographics, especially those active on platforms like X (Twitter), tend to respond with a mix of concern and criticism toward Biden’s economic policies. Older demographics and those in traditional industries or unionized sectors also express significant concern over job security and the impacts of regulatory changes. Across multiple demographics, there is a direct interest in the government policies affecting job stability.

Discussion Trends and Patterns

Critics of the Biden administration argue that policy failures and mismanagement are to blame for the rise in jobless claims. For example, a conversation involving Senator Joe Manchin and Acting Secretary Julie Su about the NLRB’s joint employer rule illustrates concerns that current labor policies might be contributing to job losses.

Senator Manchin's questioning of Secretary Su, and her inability to provide data on job losses, has fueled further criticism and speculation about the administration's transparency and competency in handling labor issues.

On the other hand, Biden supporters argue external factors such as global economic slowdowns or ongoing adjustments from COVID are to blame. They downplay policy missteps and initiatives as a cause. However, these voices are less prominent in the conversation, suggesting either a quieter support base or a shift in public confidence. Many voters indicate a deep mistrust in the current administration, linking job losses to broader accusations of deception and mismanagement.

Confidence in Biden vs. Trump

Confidence levels in President Biden appear to be waning among many voter groups, especially in conjunction with the jobless claims report. Online discussions suggest a longing for the economic policies under former President Trump. Many seem to view the Trump era as more favorable to job creation and economic stability.

The comparison between Biden and Trump in handling the economy is a recurring theme. Many Americans are expressing nostalgia for the "pre-Biden" economic conditions.

MIG Reports analysis of the U.S. Bureau of Labor Statistics’ “Employment Situation Summary,” known as the jobs report, reveals American sentiment is predominantly negative. Many stakeholders and observers are describing the job numbers as "horrible," "not strong," and indicative of a struggling economy. This is no surprise after skepticism around previous jobs reports this year.

Notably, there are concerns about the authenticity and impact of the reported job numbers. While there are some optimistic takes regarding potential interest rate cuts by the Federal Reserve, which could boost the stock market, the overall sentiment leans toward concern and dissatisfaction with the current state of job creation.

What Americans Are Saying

• Credibility of Job Numbers: There is a notable discussion about the authenticity and reliability of the job numbers released. Some question the methods and political influences behind these report figures.
• Political Impact: The reactions are heavily polarized along political lines, with figures like Donald Trump and Nancy Pelosi’s comments on MSBNC featuring in discussions about job loss records and economic performance.
• Economic Policies: Legislation like the CHIPS Act and Inflation Reduction Act are mentioned in the context of their supposed impact on job creation, with differing views on their effectiveness.
• Interest Rates and Stock Market: There's a recurring theme about how bad job numbers might lead to lower interest rates, which could paradoxically benefit the stock market.

Public Confidence in the Numbers

The belief in the accuracy of the job numbers is mixed. Some commentators and political figures express stark criticism and disbelief regarding the reported job statistics, attributing them to political maneuvering. Meanwhile, others accept them at face value but interpret them as signs of poor economic management.

Online discussions indicate a significant trust gap between the public and the institutions reporting these numbers, with political affiliation appearing to influence perceptions significantly. This could lead to continued uncertainty and polarized opinions about the state of the economy as summer 2024 approaches.

This distrust is evident in a recent tweet from Joe Biden which drew heavy criticism in replies and quote tweets, a social media phenomenon known as getting “ratioed.” The President’s post had significantly fewer likes than comments, indicating a ratio and negative reception.

Wages are rising faster than prices, incomes are higher than before the pandemic, and unemployment has remained below 4% for the longest stretch in 50 years.

We have more to do to lower costs for hardworking families, but we’re making real progress.

— Joe Biden (@JoeBiden) May 5, 2024

Forecast for Summer 2024

Given the prevailing negative sentiment and skepticism about the job numbers, the public mood going into the summer of 2024 could be cautious, if not pessimistic, unless there are significant and tangible improvements in job creation and economic indicators.

Voters will likely remain skeptical about Bidne’s economic policies and their effectiveness in addressing unemployment and job quality. As jobs and the economy continue to be a very high priority issues for Americans, sentiment on this front could tangibly impact voter decisions in the fall.