Inflation Remains Top Financial Concern

Tuesday, May 14, 2024

The voice of the world in numbers.

May 14, 2024

Welcome to Front Page, where we break down Gallup's latest insights on our constantly evolving world. Here are the five insights you shouldn't miss this week:

1. Inflation Remains Top Financial Concern

Line Chart: 41% of Americans mention the high cost of living or inflation when asked about the most important problem facing their family in 2024.

The Data: For the third consecutive year, Americans cite inflation or the high cost of living (41%) as their family's primary financial issue.

Top Five: Other major financial worries include the cost of homeownership (14%), personal debt (8%), healthcare costs (7%) and low wages (7%).

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2. Job Market Cooling Down?

Line Chart: 49% of Americans say it is currently a good time to find a quality job.

The Data: Currently, 49% of Americans say it is a good time to find a quality job, down six percentage points from the previous measure in January and the lowest since 43% were optimistic in April 2021.

Historical Context: This downturn in positive views about the job market follows the record high of 74% in October 2021, a period of robust economic recovery post-COVID-19 when employers struggled to fill positions.

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3. Russia Continues to Lose Influence Within Its Sphere

Multiple Line Charts: Net approval of Russia's leadership across post-Soviet Eurasia and the Baltics, from 2007 to 2023.

The Data: Russia started to lose favor within its sphere of influence before it invaded Ukraine in 2022, but ratings of its leadership only tumbled after that — and have not recovered.

Rating World Leaders: These data come from Gallup's latest Rating World Leaders report, which analyzes trends in approval of the leadership of the U.S., Germany, Russia and China in over 130 countries.

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4. Low Confidence in Biden's Economic Leadership

Line Chart: 38% of Americans have confidence in Joe Biden to do the right thing for the U.S. economy in 2024.

The Data: Fewer than four in 10 Americans (38%) express confidence in President Joe Biden's handling of the economy.

Additional Economic Leaders: This skepticism extends beyond Biden, with other key economic figures such as Federal Reserve Chair Jerome Powell and both Republican and Democratic congressional leaders eliciting confidence from less than 50% of Americans.

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5. Gallup Vault: Comics and Teen Crime

Bar Chart: 26% of Americans said comic books were 'a great deal' to blame for teenage crime in 1954.

The Data: While society continues to implicate various forms of entertainment in the corruption of youth, in 1954, 70% of Americans blamed teenage crime on comic books.

Historical Context: The poll was conducted several months after a U.S. Senate subcommittee held televised hearings on the effect that a wildly popular new genre of comic books — containing violent, sexual and generally gruesome themes — might have had on young people. Fueling the comic book fire, psychologist Fredric Wertham published his highly influential book, Seduction of the Innocent, which drew scary connections between comic books and what he called the "moral disarmament" of young people.

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