---
title: "Cost Concerns Dominate as Public’s Economic Ratings Turn More Negative"
description: "The costs of many household essentials are a top economic concern for most Americans – much as they were four years ago on the eve of the last midterm election."
date: "2026-10-08"
authors:
  - name: "J. Baxter Oliphant"
    job_title: "Senior Researcher "
    link: "https://www.pewresearch.org/staff/baxter-oliphant/"
url: "https://www.pewresearch.org/politics/2026/10/08/cost-concerns-dominate-as-publics-economic-ratings-turn-more-negative/"
categories:
  - "Donald Trump"
  - "Economic Conditions"
  - "Economy & Work"
  - "National Conditions"
  - "Political Issues"
  - "Politics & Policy"
  - "Uncategorized"
---

# Cost Concerns Dominate as Public’s Economic Ratings Turn More Negative

## Table of Contents
1. [Cost Concerns Dominate as Public’s Economic Ratings Turn More Negative](https://www.pewresearch.org/politics/2026/10/08/cost-concerns-dominate-as-publics-economic-ratings-turn-more-negative/markdown)
   - [Overall views of the economy](#overall-views-of-the-economy)
   - [What has the impact of Trump’s economic policies been?](#what-has-the-impact-of-trumps-economic-policies-been)
   - [Additional charts](#additional-charts)
2. [Acknowledgments](https://www.pewresearch.org/politics/2026/10/08/cost-concerns-acknowledgments/markdown)
3. [Methodology](https://www.pewresearch.org/politics/2026/10/08/cost-concerns-methodology/markdown)

## Most Americans say Trump’s economics policies have made the economy worse

**About this research**

This Pew Research Center analysis examines Americans’ views of national economic conditions, their concerns over economic issues and how Donald Trump’s policies are affecting the economy.

#### Why did we do this?

Pew Research Center conducts research to help the public, media and decision-makers understand important topics. We have studied Americans’ views of politics and major policy issues, including the [economy](https://www.pewresearch.org/topic/economy-work/), for decades.

[Learn more about Pew Research Center.](https://www.pewresearch.org/about/)

#### How did we do this?

We surveyed 5,062 U.S. adults from September 28 to October 4, 2026. Everyone who took part in this survey is a member of the Center’s American Trends Panel. The survey represents the views of the full U.S. adult population.

Here are the [survey questions](https://www.pewresearch.org/wp-content/uploads/sites/20/2026/10/PP_2026.10.8_midterms-economy_questionnaire.pdf) used for this analysis, the [detailed responses](https://www.pewresearch.org/wp-content/uploads/sites/20/2026/10/PP_2026.10.8_midterms-economy_topline.pdf) and the [survey methodology](https://www.pewresearch.org/politics/2026/10/08/cost-concerns-dominate-as-publics-economic-ratings-turn-more-negative/).

A month out from this year’s congressional elections, the costs of many household essentials are a top economic concern for most Americans – much as they were four years ago on the eve of the last midterm election.

### Public concern about the price of gas and energy, other essentials rises

*% who say they are very concerned about the following economic issues in the country today*

| Date | Price of food and consumer goods | How the stock market is doing | Cost of housing | People who want to work being unable to find jobs | Price of gasoline and energy |
| --- | --- | --- | --- | --- | --- |
| 2022-07-04 | -- | 31 | 60 | 27 | -- |
| 2022-10-16 | 73 | 32 | 60 | 29 | 69 |
| 2023-01-24 | 75 | 26 | 60 | 30 | 60 |
| 2023-04-02 | 72 | 24 | 61 | 27 | -- |
| 2024-01-21 | 72 | 18 | 64 | 31 | 51 |
| 2024-09-02 | 74 | 24 | 69 | 40 | -- |
| 2025-04-13 | 67 | 36 | 61 | 41 | 46 |
| 2025-09-28 | 65 | 19 | 61 | 42 | 45 |
| 2026-01-26 | 66 | 20 | 62 | 45 | 43 |
| 2026-07-12 | 66 | 18 | 64 | 44 | 60 |
| 2026-10-04 | 73 | 21 | 66 | 48 | 74 |

Note: The items about the price of food and consumer goods and the price of gasoline and energy were not asked in July 2022.

Source: Survey of U.S. adults conducted Sept. 28-Oct. 4, 2026.

**Americans also have a glum view of national economic conditions**: Just 21% say they are excellent or good, down from 28% at the start of the year. This is one of the lowest assessments of the economy in either of President Donald Trump’s two terms.

**One of the biggest economic concerns of the public is about the price of gas and energy.** Today, 74% of Americans say they are very concerned about this, up from 60% in July. In January – before the United States’ military conflict with Iran – 43% said they were very concerned about gas and energy prices.

Concern about gas prices is up across the political spectrum over this period, though it is higher among Democrats and Democratic-leaning independents (81% say they are very concerned) than among Republicans and Republican leaners (65%).

The new Pew Research Center survey of 5,062 U.S. adults, conducted from Sept. 28 to Oct. 4, 2026, also finds wide majorities saying they are very concerned about the cost of:

- Food and consumer goods (73%)

- Healthcare (69%)

- Housing (66%)

While concerns about the job market are not as widespread, they have also risen in recent months: 48% now say they are very concerned about people who want to work being unable to find jobs, up from 44% in July and substantially higher than the 29% who said this in October 2022.

Half of the public say they are very concerned about the role of artificial intelligence (AI) in the economy.

In contrast, few Americans are very concerned about how the stock market is doing (21%).

**Related: “[With Americans in a Sour Mood, Democratic Voters Are More Engaged in Midterms](https://www.pewresearch.org/politics/2026/10/08/with-americans-in-a-sour-mood-democratic-voters-are-more-engaged-in-midterms/).”**

### Overall views of the economy

Americans’ economic ratings have ticked more negative over the last few months: Today, 21% describe economic conditions as excellent or good, while 37% say they are only fair and 42% say they are poor. In July, 24% said economic conditions were excellent or good.

### Americans give the economy negative ratings, as Republicans’ positive ratings continue to slip

*% who say economic conditions in the country today are excellent/good*

| Date | Total | Rep/Lean Rep | Dem/Lean Dem |
| --- | --- | --- | --- |
| 2016-11-08 | 32 | 18 | 46 |
| 2017-03-12 | 41 | 37 | 44 |
| 2018-10-07 | 56 | 75 | 44 |
| 2018-11-16 | 59 | 74 | 48 |
| 2019-08-04 | 57 | 83 | 37 |
| 2019-09-29 | 56 | 75 | 41 |
| 2020-01-19 | 57 | 81 | 39 |
| 2020-04-12 | 23 | 37 | 11 |
| 2020-06-22 | 25 | 46 | 9 |
| 2020-10-05 | 33 | 57 | 13 |
| 2020-11-17 | 36 | 56 | 19 |
| 2021-03-07 | 23 | 25 | 21 |
| 2021-04-29 | 37 | 36 | 39 |
| 2021-09-19 | 26 | 16 | 34 |
| 2022-01-17 | 28 | 20 | 36 |
| 2022-07-04 | 13 | 5 | 20 |
| 2022-10-16 | 17 | 9 | 26 |
| 2023-01-23 | 21 | 12 | 31 |
| 2023-04-02 | 19 | 10 | 28 |
| 2024-01-21 | 28 | 13 | 44 |
| 2024-05-19 | 23 | 10 | 37 |
| 2024-09-02 | 25 | 10 | 41 |
| 2025-02-02 | 24 | 18 | 30 |
| 2025-04-13 | 23 | 36 | 11 |
| 2025-09-28 | 26 | 44 | 10 |
| 2026-01-26 | 28 | 49 | 10 |
| 2026-07-12 | 24 | 41 | 10 |
| 2026-10-04 | 21 | 36 | 9 |

Source: Survey of U.S. adults conducted Sept. 28-Oct. 4, 2026.

**The near-term decline in ratings is driven by a shift in Republicans’ views**.

Today, 36% of Republicans see the economy as in excellent or good shape, down from 41% in July. About a quarter of Republicans (23%) now say conditions are poor, up from 19% in July.

The share of Democrats who say the economy is excellent or good (9%) is largely unchanged since July, but the share who say conditions are poor has risen (56% now vs. 48% then).

##### Economic outlook

About a quarter of Americans (26%) say that they expect economic conditions will be better in a year, while roughly a third (34%) say conditions will be about the same and about four-in-ten (39%) expect them to worsen.

Republicans (41%) are more optimistic than Democrats (14%) about future conditions. Half of Democrats and a quarter of Republicans are pessimistic, saying things will get worse.

*For trends on economic optimism, refer to* *[Additional charts](#additional-charts).*

### What has the impact of Trump’s economic policies been?

Most Americans see Donald Trump’s economic policies as hurting the economy:

- 65% say they have made things worse.

- 15% say they have not had much of an effect.

- 19% say his policies have made conditions better.

### Republicans are now nearly as likely to say Trump’s policies have hurt the economy as helped it

*% who say that since taking office, Donald Trump’s economic policies have made economic conditions …*

| Date | Group | Better | Worse | Not had much of an effect |
| --- | --- | --- | --- | --- |
| Sep ’25 | Total | 24 | 53 | 22 |
| Jan ’26 | Total | 28 | 52 | 19 |
| Jul ’26 | Total | 20 | 60 | 19 |
| Oct ’26 | Total | 19 | 65 | 15 |
| Sep ’25 | Rep/Lean Rep | 47 | 19 | 33 |
| Jan ’26 | Rep/Lean Rep | 57 | 18 | 25 |
| Jul ’26 | Rep/Lean Rep | 42 | 28 | 29 |
| Oct ’26 | Rep/Lean Rep | 39 | 35 | 25 |
| Sep ’25 | Dem/Lean Dem | 3 | 87 | 10 |
| Jan ’26 | Dem/Lean Dem | 3 | 85 | 12 |
| Jul ’26 | Dem/Lean Dem | 2 | 89 | 8 |
| Oct ’26 | Dem/Lean Dem | 3 | 91 | 6 |

Note: No answer responses are not shown.

Source: Survey of U.S. adults conducted Sept. 28-Oct. 4, 2026.

**Republicans are divided over the impact of Trump’s policies – a shift over the last year**:

- 39% say Trump’s policies have made economic conditions better – down from 47% last fall and 57% in January.

- 35% say his policies have made things worse – up from 18% at the start of the year.

- 25% say his policies have not had much of an effect – the same share as in January.

Democrats continue to overwhelmingly see Trump’s policies as making economic conditions worse (91% say this today).

#### Views of tariff policies

By more than two-to-one, Americans see the administration’s tariff policies as having a more negative (56%) than positive effect (20%) on the country in the coming years. About two-in-ten (22%) say the impact will be mixed.

### A majority of Americans say Trump’s tariff policies will have mostly negative impacts on the country

*% who say that the overall effect of the Trump administration's tariff policies on the country as a whole over the coming years will be ...*

|  | Mostly positive | About equally positive and negative | Mostly negative | Grouping |
| --- | --- | --- | --- | --- |
| Total | 20 | 22 | 56 | 1 |
| Rep/Lean Rep | 40 | 34 | 26 | 2 |
| Dem/Lean Dem | 5 | 12 | 83 | 2 |

Note: No answer responses are not shown.

Source: Survey of U.S. adults conducted Sept. 28-Oct. 4, 2026.

##### Among Republicans

Four-in-ten Republicans say the tariffs will have a mostly positive impact (40%) on the country – down from 52% in August 2025 and 49% in January of this year.

About a quarter of Republicans (26%) now say the tariffs will be bad for the country – up from 21% last summer and 17% at the start of the year.

Roughly a third of Republicans (34%) continue to say the tariffs will have a mix of positive and negative consequences.

##### Among Democrats

Democrats overwhelmingly say Trump’s tariffs will have a negative impact on the country (83% say this). Their views are little changed since last year.

*For trends on views of tariff policy, refer to* *[Additional charts](#additional-charts).*

#### Partisan differences on economic concerns

Democrats express more concern than Republicans on most of the economic issues asked about on the survey, as [they did in July](https://www.pewresearch.org/politics/2026/07/23/americans-evaluations-of-the-economy-remain-negative/) and at the [start of Trump’s second term](https://www.pewresearch.org/politics/2025/04/23/economic-ratings-and-concerns-2025/).

### Democrats are more concerned than Republicans about several economic issues

*% who say they are very concerned about the following economic issues in the country today*

| Topic | Total | Rep/Lean Rep | Dem/Lean Dem |
| --- | --- | --- | --- |
| The price of gasoline and energy | 74 | 65 | 81 |
| The price of food and consumer goods | 73 | 62 | 82 |
| Cost of healthcare | 69 | 57 | 80 |
| Cost of housing | 66 | 53 | 76 |
| Role of AI in the economy | 50 | 42 | 57 |
| People who want to work being unable to find jobs | 48 | 34 | 59 |
| How the stock market is doing | 21 | 19 | 22 |

Survey of U.S. adults conducted Sept. 28-Oct. 4, 2026.

Even as there are wide partisan gaps in concerns about prices of gasoline, energy, food, consumer goods and healthcare, majorities in both parties say they are very concerned about these issues.

Democrats are also more concerned than Republicans about the role of AI in the economy and people who want to work being unable to find jobs.

Relatively few in either party say they are concerned about how the stock market is doing.

*For full trends on economic concerns by party,* *refer to* *[Additional charts](#additional-charts).*

### Additional charts

### Economic optimism remains lower than earlier in Trump’s second term

*% who say they expect that economic conditions in this country will be __ a year from now*

| Date | Group | Better | Worse | About the same as now |
| --- | --- | --- | --- | --- |
| Feb ’25 | Total | 40 | 37 | 23 |
| Apr ’25 | Total | 36 | 45 | 19 |
| Sep ’25 | Total | 29 | 46 | 24 |
| Jan ’26 | Total | 31 | 38 | 30 |
| Jul ’26 | Total | 23 | 36 | 40 |
| Oct ’26 | Total | 26 | 39 | 34 |
| Feb ’25 | Rep/Lean Rep | 73 | 9 | 18 |
| Apr ’25 | Rep/Lean Rep | 65 | 15 | 20 |
| Sep ’25 | Rep/Lean Rep | 55 | 19 | 26 |
| Jan ’26 | Rep/Lean Rep | 57 | 14 | 28 |
| Jul ’26 | Rep/Lean Rep | 42 | 19 | 39 |
| Oct ’26 | Rep/Lean Rep | 41 | 25 | 34 |
| Feb ’25 | Dem/Lean Dem | 10 | 64 | 26 |
| Apr ’25 | Dem/Lean Dem | 8 | 74 | 17 |
| Sep ’25 | Dem/Lean Dem | 6 | 73 | 21 |
| Jan ’26 | Dem/Lean Dem | 8 | 62 | 30 |
| Jul ’26 | Dem/Lean Dem | 7 | 53 | 40 |
| Oct ’26 | Dem/Lean Dem | 14 | 50 | 34 |

Note: No answer responses are not shown.

Source: Survey of U.S. adults conducted Sept. 28-Oct. 4, 2026.

### How the public’s economic concerns have shifted in recent years 

*% who say they are very concerned about the following economic issues in the country today*

| Date | Topic | Total | Rep/Lean Rep | Dem/Lean Dem |  |
| --- | --- | --- | --- | --- | --- |
| 2021-09-19 | People who want to work being unable to find jobs | 29 | 23 | 34 | 1 |
| 2022-07-04 | People who want to work being unable to find jobs | 27 | 26 | 28 | 1 |
| 2022-10-16 | People who want to work being unable to find jobs | 29 | 25 | 33 | 1 |
| 2023-01-24 | People who want to work being unable to find jobs | 30 | 25 | 34 | 1 |
| 2023-04-02 | People who want to work being unable to find jobs | 27 | 22 | 29 | 1 |
| 2024-01-21 | People who want to work being unable to find jobs | 31 | 30 | 32 | 1 |
| 2024-09-02 | People who want to work being unable to find jobs | 40 | 42 | 38 | 1 |
| 2025-04-13 | People who want to work being unable to find jobs | 41 | 28 | 54 | 1 |
| 2025-09-28 | People who want to work being unable to find jobs | 42 | 26 | 57 | 1 |
| 2026-01-26 | People who want to work being unable to find jobs | 45 | 32 | 59 | 1 |
| 2026-07-12 | People who want to work being unable to find jobs | 44 | 29 | 57 | 1 |
| 2026-10-04 | People who want to work being unable to find jobs | 48 | 34 | 59 | 1 |
| 2022-07-04 | Cost of housing | 60 | 59 | 61 | 2 |
| 2022-10-16 | Cost of housing | 60 | 57 | 62 | 2 |
| 2023-01-24 | Cost of housing | 60 | 55 | 65 | 2 |
| 2023-04-02 | Cost of housing | 61 | 58 | 64 | 2 |
| 2024-01-21 | Cost of housing | 64 | 63 | 66 | 2 |
| 2024-09-02 | Cost of housing | 69 | 72 | 66 | 2 |
| 2025-04-13 | Cost of housing | 61 | 51 | 71 | 2 |
| 2025-09-28 | Cost of housing | 61 | 51 | 71 | 2 |
| 2026-01-26 | Cost of housing | 62 | 54 | 71 | 2 |
| 2026-07-12 | Cost of housing | 64 | 52 | 73 | 2 |
| 2026-10-06 | Cost of housing | 66 | 53 | 76 | 2 |
| 2022-10-16 | Price of gasoline and energy | 69 | 80 | 58 | 3 |
| 2023-01-24 | Price of gasoline and energy | 60 | 72 | 48 | 3 |
| 2024-01-21 | Price of gasoline and energy | 51 | 64 | 40 | 3 |
| 2025-04-13 | Price of gasoline and energy | 46 | 40 | 51 | 3 |
| 2025-09-28 | Price of gasoline and energy | 45 | 36 | 53 | 3 |
| 2026-01-26 | Price of gasoline and energy | 43 | 40 | 47 | 3 |
| 2026-07-12 | Price of gasoline and energy | 60 | 49 | 68 | 3 |
| 2026-10-06 | Price of gasoline and energy | 74 | 65 | 81 | 3 |
| 2022-10-16 | Price of food and consumer goods | 73 | 81 | 66 | 4 |
| 2023-01-24 | Price of food and consumer goods | 75 | 81 | 69 | 4 |
| 2023-04-02 | Price of food and consumer goods | 72 | 78 | 66 | 4 |
| 2024-01-21 | Price of food and consumer goods | 72 | 82 | 63 | 4 |
| 2024-09-02 | Price of food and consumer goods | 74 | 85 | 64 | 4 |
| 2025-04-13 | Price of food and consumer goods | 67 | 57 | 78 | 4 |
| 2025-09-28 | Price of food and consumer goods | 65 | 52 | 77 | 4 |
| 2026-01-26 | Price of food and consumer goods | 66 | 55 | 75 | 4 |
| 2026-07-12 | Price of food and consumer goods | 66 | 55 | 75 | 4 |
| 2026-10-06 | Price of food and consumer goods | 73 | 62 | 82 | 4 |
| 2022-07-04 | How the stock market is doing | 31 | 41 | 23 | 5 |
| 2022-10-16 | How the stock market is doing | 32 | 43 | 24 | 5 |
| 2023-01-24 | How the stock market is doing | 26 | 34 | 20 | 5 |
| 2023-04-02 | How the stock market is doing | 24 | 31 | 18 | 5 |
| 2024-01-21 | How the stock market is doing | 18 | 23 | 14 | 5 |
| 2024-09-02 | How the stock market is doing | 24 | 31 | 17 | 5 |
| 2025-04-13 | How the stock market is doing | 36 | 24 | 49 | 5 |
| 2025-09-28 | How the stock market is doing | 19 | 15 | 23 | 5 |
| 2026-01-26 | How the stock market is doing | 20 | 20 | 22 | 5 |
| 2026-07-12 | How the stock market is doing | 18 | 18 | 17 | 5 |
| 2026-10-06 | How the stock market is doing | 21 | 19 | 22 | 5 |
| 2026-01-26 | Cost of healthcare | 71 | 61 | 82 | 6 |
| 2026-07-12 | Cost of healthcare | 69 | 58 | 78 | 6 |
| 2026-10-06 | Cost of healthcare | 69 | 57 | 80 | 6 |
| 2026-07-12 | Role of AI in the economy | 49 | 45 | 53 | 7 |
| 2026-10-06 | Role of AI in the economy | 50 | 42 | 57 | 7 |

Source: Survey of U.S. adults conducted Sept. 28-Oct. 4, 2026.

### Republicans have become less positive about Trump’s tariff policies

*% who say that the overall effect of the Trump administration's tariff policies on the country as a whole over the coming years will be ...*

| Date | Group | Mostly positive | About equally positive and negative | Mostly negative |
| --- | --- | --- | --- | --- |
| Aug ’25 | Total | 26 | 19 | 55 |
| Jan ’26 | Total | 25 | 23 | 51 |
| Oct ’26 | Total | 20 | 22 | 56 |
| Aug ’25 | Rep/Lean Rep | 52 | 27 | 21 |
| Jan ’26 | Rep/Lean Rep | 49 | 34 | 17 |
| Oct ’26 | Rep/Lean Rep | 40 | 34 | 26 |
| Aug ’25 | Dem/Lean Dem | 2 | 11 | 87 |
| Jan ’26 | Dem/Lean Dem | 3 | 12 | 84 |
| Oct ’26 | Dem/Lean Dem | 5 | 12 | 83 |

Note: No answer responses are not shown.

Source: Survey of U.S. adults conducted Sept. 28-Oct. 4, 2026.

---

**Next:** [Acknowledgments](https://www.pewresearch.org/politics/2026/10/08/cost-concerns-acknowledgments.md)