The U.S. public’s approval of Donald Trump’s handling of the economy jumped to 56 percent, up from 46 percent in September, according to a new ABC News/Washington Post poll.
That is the highest level of approval on economics of Trump’s presidency.
Just 38 percent say they disapprove of Trump’s handling of the economy.
The economy is performing extremely well. The unemployment rate has remained below 4 percent for more than a year and a half. In November it fell back to 3.5 percent, the lowest unemployment rate in 50 years. Working-age Americans, discouraged by years of low-growth and low-wages, are returning to the labor force. Wage growth for non-management workers is up. Jobless claims suggest that layoffs remain very low. The economy added jobs at a breakneck pace in November.
Inflation, which many economists thought would pick up this year due to labor market tightness and tariffs, remains very low and very stable. Tariffs have not driven up the prices of consumer goods. Consumer confidence remains high.
Most importantly, the recession worries that loomed so large for so much of last year have evaporated in the presence of consistently good economic data. That has upended the plans of Democratic presidential hopefuls and strategists who had planned to use any economic downturn against Trump.
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