I was fooling around with the latest YouGov/Economist poll and marveling anew at how bad Republicans think the economy is. But the most spectacular finding is surely this:
68% of Republicans think unemployment is a serious problem in the US.
The unemployment rate last month was 3.7%. It's been under 4% for 24 straight months. The unemployment rate in 2023 was the lowest in the past half century:
Now, this is average unemployment. Maybe you think there are individual places where unemployment is high, and the survey is picking up those folks. After all, the unemployment rate in Merced is 9%! But that's not it. In the entire country, only 2.3% of all metro areas have unemployment rates over 7%—almost all of them small farming regions in California.
Nor is it anything else. Unemployment is at historic lows for white people, Black people, and Hispanic people. For men and for women. For the young and the old. By virtually any measure, unemployment is historically low for everyone and has been for the past two years.
And here's the kicker: 54% of Democrats also think unemployment is a serious problem. That's not quite as lopsided as it is for Republicans, but it's still insane. Fox News may be the leader in pushing bad economic news on its audience, but they obviously aren't the only ones.
Unemployment fell to 3.6% in March of 2022 and has stayed within a tenth of a point of that ever since. The press has had 22 months to let people know this, but to this day the vast majority still think people are struggling to find work. What in the name of God is going on?