Wednesday :: Apr 21, 2010

Gallup Sees An Uptick

by Deacon Blues

The mainstream media has been peddling the storyline of an angry electorate, upset with a bad economy and out-of-control government, to set the narrative that Democrats are SOL this November. Yet is that the case with the electorate as a whole, or just the small base of rabble that made up the right wing fringe that stood with Bush no matter what?

Gallup tells us this morning that the jobs market, consumer spending, and consumer confidence have headed up in April.

Gallup estimates that more than 1.5 million Americans who were underemployed became employed to full capacity over the last month. Gallup's 30-day average underemployment measure (not seasonally adjusted) declined to 19.2% on April 18 -- a sharp improvement from the 20.2% reported on March 21 -- and essentially matching its best level of the year.
Gallup's Job Creation Index (not seasonally adjusted) provides additional confirmation of the improving job situation, hitting +5 for the week of April 12-18 -- its best level of the year and its highest since November 2008.

But wait, everyone is supposed to be angry and out of work.

Consumers are as optimistic about the economy in mid-April as they have been all year. Gallup's Economic Confidence Index for the week ending April 18 is -23, maintaining the more positive readings of the previous couple of weeks.

But wait, everyone is broke, thanks to Obama, right? And as Rush, Fox, and Beck-the-Wreck have told us, the country is mad at Obama and the ruin he has heaped upon all of us.

The recently improved confidence ratings are due in large part to Americans' more positive assessments of the U.S. economy's direction. At this point, 40% of Americans say the economy is getting better and 55% say it is getting worse. Although still negative, as recently as four weeks ago, the numbers were 35% getting better and 60% getting worse.
One benefit of more Americans having full-time work is they have more money to spend. Americans' self-reported spending increased 15% last week compared to the same week a year ago, averaging $70 or more per day for only the second time this year -- and nearly matching the $72-per-day average during a similar mid-month paycheck week in March.

Where did all this money come from, after all these Americans just paid their drastically increased income taxes under Obama?

Deacon Blues :: 10:18 AM :: Comments (2) :: TrackBack (0) :: Digg It!