Americans anticipate a year of economic growth and job creation in 2025, but remain cautious due to lingering uncertainty and political anxieties. While surveys suggest positive trends in the stock market and inflation, concerns about job security and economic vulnerability persist.
Americans head into 2025 with some positive, though conflicted, economic predictions and widely held expectations that we’re in for a year of political conflicts. Surveys conducted earlier this month and published Monday show majorities expect gains in the stock market, increasing or full employment, and reasonable price growth.Consumer confidence remains strong, even if it is trending weaker. The economy added 2.27 million jobs over the previous 12 months, as of the latest labor report.
Inflation has stalled, but its current annual rate of 2.7% is much closer to the Federal Reserve’s 2% target than its 9.1% peak back in June 2022. Weiler said he blames “uncertainty” for the reason why most Americans in the Gallup survey said they expect a year of economic difficulty.Weiler said Americans still suffer from a “pandemic hangover,” which he said is chiefly “because it shook people in their certainty.” “People who foresee sort of darker clouds are also likely to be more vulnerable,” he said. “Part of being vulnerable is being uncertain and not having a really good fallback position.”But with any average, there are folks doing much better and folks who are doing much worse. And deflation, prices falling back to their previous levels, is almost certainly not going to happen, Weiler said.And while the unemployment rate is a relatively low 4.2%, it has been creeping up. And we’re seeing the highest level of long-term unemployed Americans in seven years, he said.Nearly 90% of Republicans think the stock market will rise in the coming year. Just 46% of Democrats share that outlook. Similarly, 87% of Republicans think prices will rise at a reasonable rate. Just 23% of Democrats said the same. Eighty-six percent of Republicans expect increasing or full employment in 2025. Just a quarter of Democrats said the same
ECONOMY CONSUMERCONFIDENCE INFLATION EMPLOYMENT POLITICS
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