The latest findings from the Freedom Economy Index survey, a collaborative effort between PublicSquare and RedBalloon, underscore a troubling economic reality for many Americans, with significant implications for the November election. According to the survey, 70.5% of respondents feel their financial situation has deteriorated over the past year, a sentiment that is even more pronounced in swing states. Andrew Crapuchettes, CEO of RedBalloon, described the situation as a 'personal recession' for most Americans, highlighting the severity of the economic downturn.
Financial instability is widespread, with 44% of respondents struggling to cover daily expenses. This challenge is exacerbated by rising costs, as 93% report higher food prices, 74% note increased gas prices, and 69% face higher utility rates. The job market offers little relief, with 63% finding it harder to secure employment in the last six months, and 40% of job seekers remaining unemployed for over a year. Additionally, the survey reveals a disconnect between education and employment, with fewer than half of college graduates working in fields related to their degrees.
Michael Seifert, CEO of PublicSquare, pointed to the potential political consequences of these economic conditions, suggesting that the incumbent party may face challenges in the upcoming election. The survey also sheds light on workplace culture, with a majority of job seekers avoiding companies with strong DEI policies, and 74.7% of employees reporting that such policies have fostered division.
Crapuchettes proposed that the current economic pain may stem from a 'people shortage' due to slowed population growth, creating a unique type of recession where most retain their jobs but still experience financial hardship. Conducted among over 100,000 active employees and job seekers, the survey's findings, with a 4% margin of error, suggest that economic issues will be a critical factor in voter decisions come November.
For more details on the survey, visit https://www.publicsquare.com and https://www.redballoon.work.
