Chart of the Day: Hooray for the Economy!

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Yesterday featured several gloomy posts—strictly a coincidence, I assure you—so today here’s some good news. Matt Yglesias passes along the word that for the first time since the Great Recession, Gallup’s Economic Confidence Index broke into positive territory this week. Here’s Gallup’s explanation for the steady rise since mid-September:

While various factors likely contribute to the rise in economic confidence, the weekly average price of gas in the U.S. began to fall precipitously in the late summer and, over the last four months, the price has fallen by nearly 30% — an economic boon to most Americans. In fact, for the week of Dec. 22, the average price of gasoline was as low as it has been since the first half of 2009. Additionally, the U.S. stock market rose in December to its highest levels in history while Gallup’s unemployment rate fell to the lowest since its daily tracking began in January 2008.

So there you have it. A little late to help Democrats in the November midterms, but not too late for 2016.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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