WASHINGTON — Few issues in a presidential campaign come close to being as meaningful as the economy. The latest Associated Press-GfK poll offers a look at how the public feels about this issue, which touches nearly every aspect of American life. As the 2016 candidates get set to kick off their campaigns, here are five things to know about public opinion on the economy.
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THE ECONOMY ISN'T A MONOLITH
The economy, writ large, has been America's top policy priority for the entirety of Barack Obama's presidency, despite the slowly building recovery and the recent skyrocketing stock market. But focusing on this overall concern masks a distinction that matters to many Americans. Though negative perceptions of the economy overall are down compared with four years ago (57 percent describe it as "poor" compared with 83 percent who did in November 2010), Americans' ratings of their own finances are actually a bit worse than they were back then (38 percent describe their household's finances as poor, up from 30 percent in 2010). Young Americans, under age 30, have an exceptionally negative take on their finances, with nearly half describing them as poor.
Along the same lines, while a majority of Americans say the stock market and big businesses have mostly recovered from the Great Recession, just 16 percent think small businesses have, 27 percent say the job market where they live is mostly recovered and only 34 percent say their family is largely back to normal.
EDUCATION, LOCATION, INCOME LINKED TO IMPRESSION OF ECONOMY
For some in America, the economy is humming along. Majorities of college graduates, urban residents and people with incomes of $100,000 or more say the economy is in good shape. By contrast, just 28 percent of rural residents, 35 percent without college degrees and 35 percent with incomes under $50,000 say it's in good shape. Half of those with incomes under $50,000 and 42 percent of rural residents say they and their families haven't yet recovered from the Great Recession.
Rural residents feel the labor and real estate markets in their area have been particularly hard hit: 45 percent say their local real estate market has only recovered a little or not at all, while 53 percent say the same about their local job market.