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October 14, 2016 at 09:51 AM
Americans are on tenterhooks as the 2016 presidential election campaign draws to a close, anxiety about their personal economy causing many to lose sleep.
The latest Marketplace-Edison Research Poll found that Americans’ economic anxiety had increased over the past six months, and was up significantly from a year ago, owing to factors such as fear of losing a job and being able to pay for monthly expenses.
The two firms created the Economic Anxiety Index, a number on a scale from 0 to 100 calculated from answers to questions put to 1,036 respondents during the first week in October, about half online and half by telephone.
The index now stands at 36, up 20% from a year ago.
The survey found 30% of Americans were very fearful they would lose their job in the next six months, up from 10% last October. Thirty-nine percent said their personal financial situation caused them to lose sleep.
A quarter of respondents claimed they completely distrusted economic data put out by the federal government, including statistics on the unemployment rate, the number of jobs added and the amount of consumer spending. Forty-eight percent of Donald Trump supporters were in the distrust camp, compared with 5% of Hillary Clinton supporters.
Sixty-four percent of Americans reported feeling frequently or sometimes anxious about their financial situation. In contrast, only 34% said they felt financially secure.
Is the Economy ‘Rigged?’
Researchers asked survey respondents whether the economy was rigged in favor of certain groups. Sixty-two percent thought it was. The report said majorities of all demographic groups agreed, including Democrats, Republicans, Independents and all income levels.
The poll found a consensus as to who benefits from a rigged economy. A majority of respondents said the economy was rigged for the rich, politicians, banks and bank executives, and corporations.
