Biden Closed Out 2021 With Record Low Approval Rating: CNBC

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President Joe Biden capped 2021 with a record-low approval rating, according to the results of a CNBC/Change Research survey released Tuesday.

Forty-four percent of Americans surveyed said they approved of Biden’s performance in office, according to the survey, while 56 percent said they disapproved. The numbers are a shift from April, when 51 percent said they approved compared to 49 percent who disapproved.

Respondents indicated that their view of Biden had plummeted due chiefly to the economy. White and Latino voters both named the economy as their top issue, including men and women. Black voters said racism was their top priority, while economy was their second.

On the surface, economic indicators have been positive during Biden’s presidency. Unemployment has fallen from 6.3 percent to 4.2 percent, and average hourly earnings are up 4.8 percent. But the gains have lagged the rate of inflation, with consumer prices up 6.8 percent in November compared to the preceding year — rising at the fastest pace since 1982. And the U-6 unemployment rate — which includes Americans who have given up on looking for work — stood at 7.8 percent in November.

The survey was also conducted a week after Sen. Joe Manchin (D-WV) announced that he would not support Biden’s $1.75 trillion “Build Back Better” plan, effectively killing it in the Senate. A top sticking point was the extension of a child tax credit authorized during the Covid-19, which progressives had hoped to champion as an economic achievement leading up to this year’s midterm elections.

The new survey included 1,895 respondents contacted between Dec. 17-20. CNBC did not specify the survey’s margin of error, or say whether those contacted were registered voters.