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Key Takeaways

  • A recent Gallup poll showed most Americans feel they are worse off today than four years ago.
  • Data on household finances show that things have changed dramatically since September 2020, when the COVID-19 pandemic was affecting the economy.
  • Americans have a better job market and higher wages than they did four years ago, and rely less on government aid. However, they also face a higher cost of living, are saving less, and are falling behind on credit card payments.

Most Americans say they and their families are financially worse off today than four years ago. Economic data paint a mixed picture on whether it’s easier or harder to get by than it was back then.

Gallup recently released the results of a poll conducted in September, in which they asked U.S. adults, “Would you say you and your family are better off now than you were four years ago, or are you worse off now?” Only 39% said they were better off, while 52% said they were worse off. It was the most pessimistic result ever during a presidential election year for that question, which Gallup has asked regularly since 1984.1