A vast majority of Americans cited the economy as the most important issue in deciding who to support in the November 2024 election — and only weeks before Election Day, voters were split over which major party candidate would best manage the U.S. economy. According to a survey conducted in late October 2024 by public opinion research company Morning Consult, Donald Trump and Kamala Harris each had the confidence of 47% of likely voters for managing the economy.
24/7 Wall St. Key Points:
- The early months of the second Trump administration have been largely defined by a slew of economic policies — including tariffs, federal budget reductions, and planned tax cuts.
- While the ultimate outcome of these and other policies remains to be seen, certain subsets of American voters are not optimistic.
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In the months since that poll was taken, Trump won the election, took the oath of office, and implemented or advocated policies with broad economic implications — and for the most part, voters appear to be receptive. Results from a recent Morning Consult survey show that Trump has a net-positive 6.8% approval rating for his handling of the economy — with 49.2% of registered voters approving and 42.5% disapproving.
In the first few weeks of his second term, Trump has created the Department of Government Efficiency to reduce federal spending, laid off thousands of government employees, announced plans for sweeping tax cuts, and threatened tariffs as high as 25% on imports from Canada, China, and Mexico, America’s three largest trading partners. (Here is a look at what Trump’s presidency may mean for stocks.)
The ultimate impact Trump’s policies will have on the economy remains to be seen. But despite broad approval, there are still millions of Americans who are less optimistic about the potential outcomes.
Using survey data from Morning Consult, 24/7 Wall St. identified the Americans who are most likely to disapprove of Trump’s handling of the economy so far. We reviewed polling results among multiple demographic groups and subgroups — including gender, race, religion, educational attainment, employment status and sector, income, age, voting history, and political ideology and affiliation, among others — and ranked them on the net approval rating of Trump’s handling the economy, or the share of voters who approve of his policies less those who disapprove. All survey data was collected between Feb. 21 and Feb. 24, 2025.
Only demographic groups with which Trump has a negative net-approval rating for his handling of the economy were included on this list. Among these 26 subsets of Americans, net-approval of Trump’s economic policies range from -0.2% to -59.8%.
Perhaps not surprisingly, the strongest predictors of public opinion towards the president’s economic policies are political. The highest ranking demographic groups on this list include registered Democrats, Americans who voted for Kamala Harris in the 2024 election, and Americans who identify as ideologically liberal. While distinct, these groups have overlapping membership. (Here is a look at the Americans most likely to approve of the Trump administration so far.)
For other, non-political demographic categories, the survey’s findings were less obvious. Non-Christians, for example, disapprove of Trump’s management of the economy by a nearly 6% margin, and atheists, by over 50%. Hispanic and Black Americans, as well as registered independents are also unlikely to approve of President Trump’s economic policies.
Why It Matters
President Trump was elected to office, in part, over widespread economic concerns at the end of the Biden administration. Now, only weeks into Trump’s second term, many of the actions taken by the new president have come with meaningful economic implications. While many Americans agree with Trump’s policies, certain demographic groups are far less receptive.
26. Baby Boomers, born between 1946-1964
- Net-approval rating of Trump’s economic policies among demographic group: -0.2%
- Share of demographic group who approve of Trump’s handling of the economy: 46.5% (29.1% strongly approve; 17.4% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 46.7% (38.7% strongly disapprove; 8.0% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 6.8%
- Trump’s overall, net-approval rating among demographic group: -4.9% (46.6% approve, 51.5% disapprove, 1.9% have no opinion)
25. Non-evangelical Christians
- Net-approval rating of Trump’s economic policies among demographic group: -0.3%
- Share of demographic group who approve of Trump’s handling of the economy: 45.7% (29.6% strongly approve; 16.0% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 46.0% (37.0% strongly disapprove; 9.0% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 8.4%
- Trump’s overall, net-approval rating among demographic group: -1.1% (47.8% approve, 49.0% disapprove, 3.2% have no opinion)
24. Government workers
- Net-approval rating of Trump’s economic policies among demographic group: -0.5%
- Share of demographic group who approve of Trump’s handling of the economy: 45.9% (29.4% strongly approve; 16.6% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 46.4% (33.0% strongly disapprove; 13.4% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 7.7%
- Trump’s overall, net-approval rating among demographic group: -9.4% (43.1% approve, 52.5% disapprove, 4.4% have no opinion)
23. GenZers, born between 1997-2012
- Net-approval rating of Trump’s economic policies among demographic group: -0.7%
- Share of demographic group who approve of Trump’s handling of the economy: 42.6% (25.1% strongly approve; 17.5% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 43.3% (27.5% strongly disapprove; 15.8% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 14.2%
- Trump’s overall, net-approval rating among demographic group: +2.8% (49.5% approve, 46.8% disapprove, 3.7% have no opinion)
22. Americans living in the West
- Net-approval rating of Trump’s economic policies among demographic group: -0.8%
- Share of demographic group who approve of Trump’s handling of the economy: 45.9% (27.3% strongly approve; 18.6% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 46.6% (38.4% strongly disapprove; 8.2% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 7.5%
- Trump’s overall, net-approval rating among demographic group: -7.6% (44.9% approve, 52.5% disapprove, 2.5% have no opinion)
21. Students
- Net-approval rating of Trump’s economic policies among demographic group: -2.6%
- Share of demographic group who approve of Trump’s handling of the economy: 40.5% (24.3% strongly approve; 16.2% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 43.1% (29.8% strongly disapprove; 13.3% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 16.4%
- Trump’s overall, net-approval rating among demographic group: -8.8% (43.2% approve, 52.0% disapprove, 4.8% have no opinion)
20. Workers earning less than $50,000 per year
- Net-approval rating of Trump’s economic policies among demographic group: -2.8%
- Share of demographic group who approve of Trump’s handling of the economy: 43.9% (28.1% strongly approve; 15.7% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 46.6% (36.3% strongly disapprove; 10.4% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 9.5%
- Trump’s overall, net-approval rating among demographic group: -7.1% (44.7% approve, 51.9% disapprove, 3.4% have no opinion)
19. Residents of urban communities
- Net-approval rating of Trump’s economic policies among demographic group: -3.2%
- Share of demographic group who approve of Trump’s handling of the economy: 43.7% (25.0% strongly approve; 18.8% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 46.9% (36.7% strongly disapprove; 10.2% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 9.3%
- Trump’s overall, net-approval rating among demographic group: -7.9% (45.1% approve, 53.0% disapprove, 2.0% have no opinion)
18. Homemakers
- Net-approval rating of Trump’s economic policies among demographic group: -3.4%
- Share of demographic group who approve of Trump’s handling of the economy: 40.6% (22.9% strongly approve; 17.7% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 44.0% (39.3% strongly disapprove; 4.7% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 15.4%
- Trump’s overall, net-approval rating among demographic group: -8.9% (41.6% approve, 50.5% disapprove, 7.9% have no opinion)
17. Americans who did not vote in 2024
- Net-approval rating of Trump’s economic policies among demographic group: -3.6%
- Share of demographic group who approve of Trump’s handling of the economy: 35.3% (12.5% strongly approve; 22.8% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 38.9% (29.1% strongly disapprove; 9.8% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 25.8%
- Trump’s overall, net-approval rating among demographic group: -24.4% (31.6% approve, 56.1% disapprove, 12.3% have no opinion)
16. Women
- Net-approval rating of Trump’s economic policies among demographic group: -4.6%
- Share of demographic group who approve of Trump’s handling of the economy: 42.3% (28.8% strongly approve; 13.5% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 46.9% (36.9% strongly disapprove; 10.0% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 10.8%
- Trump’s overall, net-approval rating among demographic group: -9.6% (43.5% approve, 53.1% disapprove, 3.4% have no opinion)
15. Independent men
- Net-approval rating of Trump’s economic policies among demographic group: -4.6%
- Share of demographic group who approve of Trump’s handling of the economy: 41.3% (20.5% strongly approve; 20.8% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 45.9% (33.5% strongly disapprove; 12.4% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 12.8%
- Trump’s overall, net-approval rating among demographic group: -13.0% (40.0% approve, 53.0% disapprove, 6.9% have no opinion)
14. Non-Christians
- Net-approval rating of Trump’s economic policies among demographic group: -5.9%
- Share of demographic group who approve of Trump’s handling of the economy: 44.0% (22.9% strongly approve; 21.0% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 49.8% (41.0% strongly disapprove; 8.8% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 6.2%
- Trump’s overall, net-approval rating among demographic group: -11.6% (43.5% approve, 55.1% disapprove, 1.3% have no opinion)
13. Ideological moderates
- Net-approval rating of Trump’s economic policies among demographic group: -8.3%
- Share of demographic group who approve of Trump’s handling of the economy: 40.6% (21.5% strongly approve; 19.1% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 49.0% (36.0% strongly disapprove; 13.0% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 10.4%
- Trump’s overall, net-approval rating among demographic group: -18.6% (38.7% approve, 57.4% disapprove, 3.9% have no opinion)
12. Religious agnostics
- Net-approval rating of Trump’s economic policies among demographic group: -8.7%
- Share of demographic group who approve of Trump’s handling of the economy: 40.6% (21.5% strongly approve; 19.1% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 49.3% (37.9% strongly disapprove; 11.4% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 10.1%
- Trump’s overall, net-approval rating among demographic group: -19.4% (38.3% approve, 57.7% disapprove, 4.0% have no opinion)
11. Registered Independents
- Net-approval rating of Trump’s economic policies among demographic group: -9.4%
- Share of demographic group who approve of Trump’s handling of the economy: 37.5% (20.9% strongly approve; 16.6% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 46.9% (34.1% strongly disapprove; 12.9% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 15.6%
- Trump’s overall, net-approval rating among demographic group: -14.7% (39.1% approve, 53.9% disapprove, 7.0% have no opinion)
10. Hispanic Americans
- Net-approval rating of Trump’s economic policies among demographic group: -10.4%
- Share of demographic group who approve of Trump’s handling of the economy: 39.6% (28.9% strongly approve; 10.6% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 49.9% (38.3% strongly disapprove; 11.6% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 10.5%
- Trump’s overall, net-approval rating among demographic group: -4.7% (45.5% approve, 50.2% disapprove, 4.3% have no opinion)
9. Unemployed Americans
- Net-approval rating of Trump’s economic policies among demographic group: -12.7%
- Share of demographic group who approve of Trump’s handling of the economy: 38.1% (28.2% strongly approve; 9.9% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 50.8% (42.2% strongly disapprove; 8.6% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 11.1%
- Trump’s overall, net-approval rating among demographic group: -8.4% (43.3% approve, 51.7% disapprove, 5.0% have no opinion)
8. Black Americans
- Net-approval rating of Trump’s economic policies among demographic group: -14.3%
- Share of demographic group who approve of Trump’s handling of the economy: 36.0% (22.0% strongly approve; 14.0% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 50.3% (38.9% strongly disapprove; 11.4% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 13.7%
- Trump’s overall, net-approval rating among demographic group: -33.0% (30.4% approve, 63.4% disapprove, 6.3% have no opinion)
7. Independent women
- Net-approval rating of Trump’s economic policies among demographic group: -14.8%
- Share of demographic group who approve of Trump’s handling of the economy: 33.3% (21.4% strongly approve; 11.9% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 48.1% (34.7% strongly disapprove; 13.4% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 18.6%
- Trump’s overall, net-approval rating among demographic group: -16.7% (38.1% approve, 54.8% disapprove, 7.1% have no opinion)
6. Democratic men
- Net-approval rating of Trump’s economic policies among demographic group: -34.6%
- Share of demographic group who approve of Trump’s handling of the economy: 30.8% (13.4% strongly approve; 17.3% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 65.4% (55.4% strongly disapprove; 10.0% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 3.8%
- Trump’s overall, net-approval rating among demographic group: -47.1% (26.0% approve, 73.1% disapprove, 1.0% have no opinion)
5. Ideological liberals
- Net-approval rating of Trump’s economic policies among demographic group: -48.1%
- Share of demographic group who approve of Trump’s handling of the economy: 23.2% (12.8% strongly approve; 10.4% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 71.3% (61.3% strongly disapprove; 10.0% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 5.5%
- Trump’s overall, net-approval rating among demographic group: -54.5% (22.1% approve, 76.6% disapprove, 1.3% have no opinion)
4. Registered Democrats
- Net-approval rating of Trump’s economic policies among demographic group: -49.7%
- Share of demographic group who approve of Trump’s handling of the economy: 21.3% (10.6% strongly approve; 10.7% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 71.0% (60.5% strongly disapprove; 10.4% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 7.8%
- Trump’s overall, net-approval rating among demographic group: -65.5% (16.3% approve, 81.9% disapprove, 1.8% have no opinion)
3. Atheists
- Net-approval rating of Trump’s economic policies among demographic group: -55.0%
- Share of demographic group who approve of Trump’s handling of the economy: 20.9% (9.6% strongly approve; 11.3% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 75.9% (63.2% strongly disapprove; 12.7% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 3.2%
- Trump’s overall, net-approval rating among demographic group: -56.3% (21.8% approve, 78.2% disapprove, 0.0% have no opinion)
2. Americans who voted for Kamala Harris in 2024
- Net-approval rating of Trump’s economic policies among demographic group: -59.1%
- Share of demographic group who approve of Trump’s handling of the economy: 16.4% (7.9% strongly approve; 8.5% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 75.6% (63.6% strongly disapprove; 12.0% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 8.0%
- Trump’s overall, net-approval rating among demographic group: -74.6% (11.7% approve, 86.3% disapprove, 2.0% have no opinion)
1. Democratic women
- Net-approval rating of Trump’s economic policies among demographic group: -59.8%
- Share of demographic group who approve of Trump’s handling of the economy: 14.7% (8.7% strongly approve; 6.0% somewhat approve)
- Share of demographic group who disapprove of Trump’s handling of the economy: 74.6% (63.8% strongly disapprove; 10.8% somewhat disapprove)
- Share of demographic group with no opinion Trump’s economic policies: 10.7%
- Trump’s overall, net-approval rating among demographic group: -78.3% (9.6% approve, 87.9% disapprove, 2.4% have no opinion)
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