Economy and Work

Economy and Work, as a public priority in the United States, covers jobs, wages, small business, prices and economic security. It is the subject Americans most consistently place at or near the top of their concerns, in both open-ended and list-based surveys, but “the economy” bundles very different worries, and people with different politics read the same economic data in opposite ways. A high ranking is a clear signal of concern and a poor guide to which policy people want.

In plain words: almost everyone says the economy matters. But one person means grocery prices, another means finding a job, another means wages that have not kept up, and another means keeping a small business open. The tools that move prices and jobs are held by different people: the Federal Reserve, Congress, the president, state legislatures and city councils. This page covers what the public says and the real arguments. Who holds which power is on Economy and Work: who decides. What the data and research show is on Economy and Work: evidence.

Defined terms

Economy and Work as a subject in My Vote Forward uses these terms.

Subject. A broad area of public life people can rank by importance. Economy and Work is a priority area, not a policy. See Priorities.

Proposal. A specific action with a named authority, cost and funding source, such as “the city raises its local minimum wage to a stated amount on a stated date.” See Proposals.

Inflation. The rate at which prices rise, commonly measured by the Consumer Price Index (CPI). A lower inflation rate means prices are rising more slowly, not that they are falling.

Real wages. Wages adjusted for inflation. Wages can rise in dollars while falling in purchasing power.

Unemployment rate. The share of people in the labor force who are not working and are actively looking for work.

Economic security. Whether a household can absorb a shock, such as an unexpected bill or a job loss, without hardship.

Salience. How much attention a subject gets at a given moment, which can change faster than underlying conditions.

Evidence: what the public prioritizes

Economy and Work leads public priority measures in the United States, though the exact figure depends on the question.

In people’s own words

Gallup asks, without a list, “What do you think is the most important problem facing this country today?” In the September 1 to 17, 2026 survey of about 1,000 adults, 31% named an economic problem.⁠¹ The most common were “high cost of living/inflation” at 13% and “economy in general” at 11%; “unemployment/jobs” and “wage issues” were each 1%.⁠¹ For comparison, 30% named “the government/poor leadership,” the largest single non-economic category.⁠¹ Economic mentions moved from 25% in February 2026 to 37% in May 2026 and 28% in July 2026,⁠² showing how quickly salience shifts within a single year.

Pew Research Center asked registered voters in July 2026 which one issue they most wanted candidates to talk about. Economic issues as a group led at 29%, including 15% who named cost of living or affordability.⁠³

When people are shown a list

Pew’s January 2024 policy priorities survey of 5,140 adults found that 73% rated strengthening the economy a top priority for the president and Congress, more than any other goal.⁠⁴ The gap by party was large but both sides gave it majority support: 84% of Republicans and Republican leaners and 63% of Democrats and Democratic leaners.⁠⁴ Improving the job situation was a top priority for 49%.⁠⁴

Prices dominate the concern

The Federal Reserve’s 2025 Survey of Household Economics and Decisionmaking, fielded in October 2025, found that 91% of adults described price increases as a major or minor concern, with 53% calling them a major concern, down from 56% in 2024.⁠⁵ In the same survey, 73% said they were doing at least okay financially and 63% would cover a $400 emergency expense with cash or its equivalent.⁠⁵

Why the economy priority is hard to read

Economy and Work is ranked highly but resists interpretation for several reasons.

It bundles different worries. Gallup’s own categories split economic concern into cost of living, the economy in general, jobs, wages, taxes, the federal deficit and more.⁠^1,2 A single subject called Economy and Work hides those differences, and the policies that address them can conflict. A measure that eases prices may slow hiring; a measure that raises wages may raise some prices.

Perception depends on party. In Gallup’s July 2026 survey, 28% of adults said economic conditions were getting better and 67% said getting worse; among Republicans 67% said better, and among Democrats 4% said better.⁠² People living in the same economy describe it in nearly opposite terms, so a priority score partly measures political identity. The subjects overview discusses how list format and salience shape all subject rankings; see also Question design.

Data and experience can diverge. In September 2026 the unemployment rate was 4.2%.⁠⁶ Prices rose 3.7% over twelve months, with energy up 20.4%,⁠⁷ while average hourly earnings rose 3.0%,⁠⁶ leaving real average hourly earnings down 0.7% over the year.⁠⁸ At the same time, real median household income in 2025 was $87,460, the highest on record since 1967.⁠⁹ A person can look at these numbers and see a strong economy or a squeezed one, depending on which figure matches their own life and which year they compare against.

The deciding authorities are distant. The most powerful economic levers, interest rates and trade policy, are held by the Federal Reserve and by Congress and the president. Local bodies hold others, such as local minimum wages and business licensing. A national ranking does not say which level a participant hopes will act. See who decides.

The real tradeoffs in Economy and Work

Economy and Work tradeoffs appear wherever two reasonable goals pull against each other.

Prices versus jobs. Federal law directs the Federal Reserve to promote “maximum employment” and “stable prices” together.⁠¹⁰ Raising interest rates to slow inflation can cost jobs; lowering them to support jobs can add to inflation. The dual mandate builds this tradeoff into law.

Wage floors versus hiring. Higher minimum wages raise pay for some workers and may reduce hours or jobs for others. How large each effect is remains one of the most contested questions in economics; see evidence.

Security versus flexibility. Stronger unemployment insurance, paid leave or job protections increase security for workers and add costs or constraints for employers, many of which are small businesses.

Support now versus debt later. Federal spending or tax cuts that support households today add to deficits that must be financed later. See Tradeoffs on committed spending.

Openness versus protection. Tariffs can protect some domestic industries and jobs while raising prices for buyers of imported goods and inputs.

Local competition. States and cities compete for employers with tax incentives; one place’s gain may be another’s loss, and the public cost is often hard to see.

Competing interpretations

Economy and Work debates contain several serious positions. Each is stated in the form its supporters would recognize.

“Markets create the jobs; government should get out of the way”

Holders of this view argue that lower taxes, lighter regulation and predictable rules let businesses invest and hire, and that wage floors and mandates price low-skill workers out of jobs. They cite research such as Neumark and Shirley’s review, which finds “a clear preponderance of negative estimates” of minimum wage employment effects, strongest “for teens and young adults as well as the less-educated”.⁠¹¹

“Workers need a floor and a voice”

Holders of this view argue that wages have not kept pace with productivity for many workers, that bargaining power has shifted toward employers, and that wage floors and unions correct the imbalance. They cite research such as Cengiz, Dube, Lindner and Zipperer, who studied 138 state minimum wage increases and found “the overall number of low-wage jobs remained essentially unchanged” over five years.⁠¹² Union membership was 10.0% of wage and salary workers in 2025, down from 20.1% in 1983;⁠¹³ supporters of unions see that decline as a cause of stagnant wages, while critics see it as workers and employers choosing other arrangements.

“Prices are the economy for most families”

A view that crosses party lines holds that cost of living, not GDP or unemployment, is what most households experience as “the economy.” The Fed’s finding that 91% of adults are concerned about price increases,⁠⁵ supports the claim that prices drive the priority. People who share this view still disagree about causes, including government spending, energy markets, tariffs, corporate pricing and housing supply.

“Security first”

Another view emphasizes resilience over growth: the 37% of adults who would not cover a $400 expense with cash or its equivalent, the remainder after the 63% who would⁠⁵ and the 34.5 million people in official poverty in 2025.⁠¹⁴ Holders of this view prioritize safety nets. Critics respond that safety nets can reduce work incentives and that growth does more to reduce poverty over time; supporters respond that the two are not exclusive.

“Trade and industry policy”

Some argue that tariffs and industrial policy protect strategic industries and communities hurt by imports; others argue they raise costs for consumers and manufacturers that rely on imported inputs. The constitutional question of who may set tariffs was itself contested in 2026; see who decides.

Application to this framework

Economy and Work, in My Vote Forward, is one subject a participant can rank. A group result can show that many participants place it first. It cannot show what they want done.

The framework therefore separates:

• Priority. How important Economy and Work is relative to Education, Health and Care, Housing and Communities, and other subjects. See Priorities.
• Allocation. How a defined, fictional pool of new money would be divided, never including money already committed by law. See Tradeoffs.
• Opinion on a proposal. Whether a participant supports a specific measure, such as a local minimum wage ordinance or a state workforce training program, with its authority, cost and funding. See Proposals and Opinions.

Hypothetical example. In a city pilot, 55% of participants rank Economy and Work first. Some of them mean rent, which belongs partly to Housing and Communities; some mean commuting costs, which belong partly to Infrastructure and Transport; some mean health insurance, which belongs partly to Health and Care. The framework should show that overlap rather than treat the 55% as a single demand. Subjects overlap; they are not budget accounts.

Because partisan perception strongly shapes economic views, group results on this subject should be shown with their composition and method. See Measurement and Collective priorities.

Unresolved questions

Economy and Work raises open questions for the framework:

• Should Economy and Work be split into prices, jobs and wages, and economic security, given how differently those are addressed?
• How should results account for partisan differences in perceiving the same economy without implying that one side is mistaken?
• When a participant’s economic concern is really about housing or health costs, should the framework ask a follow-up question or leave the overlap visible?
• How can priority results on national economic levers be useful when the deciding authority, such as the Federal Reserve, is designed to be insulated from short-term public pressure?
• How often should economic priority be re-asked, given how fast salience moves?