A recent poll has revealed an interesting trend among voters in swing states – while the general sentiment towards the national economy is negative, people are feeling positive about their personal finances. This phenomenon raises questions about the perception of the economy at an individual level.

Take Nathan Frederiksen, for example. At 40, he is on track to retire by 60 and is able to save 10% of his income for retirement while supporting his family. Despite feeling the impact of inflation on his budget, he feels secure about his financial situation. This sentiment is echoed by many others, as evidenced by a Wall Street Journal poll which found that while people believe the national economy is struggling, they are optimistic about their own financial well-being.

These findings are consistent with previous Gallup polling, which showed that while only 16% rated the economy as ‘good’ or ‘excellent’, 45% felt positive about their personal finances.

However, it’s important to note that the available data suggests an improvement in the economy. Since President Joe Biden took office, the unemployment rate has dropped from 6.3% to 3.8%. Additionally, inflation has decreased from 9.1% to 3.2%, and the US gross domestic product grew by 2.5% in 2023, outpacing other developed economies.

Despite these positive indicators, there seems to be a disconnect between the macroeconomic data and individual perceptions. This raises the question of what factors are influencing people’s outlook on the economy and how it aligns with the overall economic landscape.