Purple State Economies Signal Election Trouble as Majority Report Financial Decline

Recent findings from the August Freedom Economy Index indicate potential electoral challenges for the current political administration, as 70.5% of Americans report being financially “worse off” or “much worse off” compared to last year. Particularly concerning for policymakers, respondents in purple swing states feel “much worse off” at a rate 7 points higher than those in red states.

RedBalloon CEO Andrew Crapuchettes remarked, “The latest Freedom Economy survey numbers look like most Americans have been in a personal recession for the past year.” This sentiment is echoed by PublicSquare CEO Michael Seifert, who noted, “Elections are won or lost on the economy. Based on our results, this doesn’t bode well for the incumbent party.”

The survey unveils several critical concerns: 44% of respondents are struggling to cover daily expenses, a problem exacerbated in blue states and among Baby Boomers. A staggering 93% have seen food prices rise in the last 30 days, while 74% and 69% reported increases in gas and utility prices, respectively. Additionally, 63% of respondents stated that finding a job is now significantly harder than six months ago, with 4 in 10 job seekers being unemployed for over a year.

The survey also highlights a disconnect between education and employment, with less than half of college graduates working in fields related to their degrees. Moreover, workplace dynamics are affected by diversity, equity, and inclusion (DEI) policies, with a large majority of job seekers avoiding companies that emphasize DEI and 74.7% of employees feeling that DEI initiatives have led to workplace division.

This month’s Freedom Economy Index survey, a joint effort by PublicSquare and RedBalloon, involved over 100,000 active employees and job seekers from RedBalloon’s national database. The survey was conducted between July 29 and August 2, 2024, with 765 respondents and a 4% margin of error at a 95% confidence level.

Andrew Crapuchettes added, “Perhaps we are in a different kind of recession. The overall slowdown in population growth has created a people shortage, so in an economic slowdown, most keep their jobs, but the economic pain is real. That’s what we’re seeing in this survey.”

Verbatim comments from survey respondents paint a bleak picture of the current job market. Many shared stories of prolonged unemployment, job applications going unanswered, and frustrations with companies seemingly not hiring despite posting job vacancies. One respondent noted, “Jobs are posted, I apply, jobs never call. And I keep seeing the same jobs posted. So, either the jobs don’t exist, or the company just wants people to believe the jobs exist.”

As the nation heads towards the November elections, these economic sentiments could play a crucial role in shaping voter behavior, making the results of the August Freedom Economy Index a pivotal point of discussion for both political analysts and the general public.