The ratings for the health of the economy (only 14% of Americans describe it as excellent or good and 49% say it is poor) and national satisfaction (only 17% are satisfied) are at their lowest for a midterm election since Gallup began measuring the indicators in 1994 and 1982, respectively.
The 35-point gap between the positive and negative evaluation of the economy is the largest for a midterm election since Gallup began measuring the indicator in 1994. Gallup noted that the economy tends to be less strongly related to midterm election outcomes than other indicators, but coupled with President Joe Biden’s weak approval rating, it may hold more significance this year.
Approval of presidential and Congressional job performances are also near historical lows at 40% and 21%, respectively. Gallup noted that the incumbent president’s party typically lost seats in every midterm election when the president’s approval rating was below 50% and when Congress’ approval rating was at or below 35%
Gallup also noted that midterm elections usually favor the party not in power.