Nearly 3 in 5 incorrectly believe US is in economic recession: survey
fox59.com
A majority of Americans wrongly believe that the country is in a recession, a new survey found.

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
  • mozz@mbin.grits.devOP
    0·
    6 months ago

    A better metric is workforce participation rate which is at an all time low

    This is the opposite of true - it’s not at a historic high, either, but it’s climbing. And, it’s notable that it blipped back up to as if Covid hadn’t happened, which most countries haven’t been able to do. (Also worth noting that all this is taking place within a tiny range of 4% on the full size graph; even the “big” Covid dip was only a drop of 3%.

    Unemployment is actually sort of a bad metric, yes. For whatever reason the story picked a bunch of not really all that good metrics (economic expansion, stock market) and then asked people about them. I do think it would have been a much better story if they’d asked about wages instead of these corporate-friendly metrics.