Most Americans Report Economic Anxiety, Loss Of Relative Income: Poll

More than three-quarters of Americans say their income is not keeping up with inflation, according to a CBS News poll.

The survey found that Americans are stressed about high gas prices and a feeling of uncertainty regarding the war with Iran. The war, launched in February by the U.S. and Israel, has dragged on for months and led to the closure of the Strait of Hormuz, a key waterway through which about a fifth of all global energy passes, leading to soaring prices.

According to AAA, the average price of a gallon of gas was $4.51, up substantially from a year ago when the average price was $3.17 a gallon. California has the highest gas prices in the country, with per gallon prices exceeding $6.

Overall, inflation in the U.S. has been on the rise. The U.S. inflation rate hit 3.8 percent in April, the highest it has been since May 2023, according to tradingeconomics.com.

The U.S. unemployment rate has remained relatively steady. In April 2026, the Bureau of Labor Statistics reported that the unemployment was at 4.3 percent, which was virtually unchanged since December 2025 when it was 4.4 percent.

One of the drivers of the economic anxiety to related to the fact that most Americans do not believe their income levels are keeping pace with rising costs. The CBS News poll found that only 23 percent said they were keeping up with inflation, with 77 percent saying they were not. Additionally, only 29 percent said the economy was in a good place.

A majority of respondents also blamed President Trump’s policies for both short and long-term economic concerns. The CBS poll found that 65 percent of Americans believed Trump was making the short-term economic situation worse through his policies, while 50 percent believed they would make things worse over the long term.

The percentage of people who believed Trump was making things better in the short-term was only 13 percent, but that increased to 29 percent of the long-term.

However, the poll did not find that respondents viewed Democrats much better. When asked who had the better approach to the economy 35 percent favored Democrats, 31 percent favored Republicans and 34 percent said they were not sure.