Inflation is rising again, hiring is slowing, and voter confidence in the economy has dropped to one of its lowest points in years. Federal data shows annual inflation hitting 3 percent for the first time since the Biden administration — a full point above the Fed’s target — driven largely by higher energy and food costs, the areas Americans can least avoid.

At the same time, job growth has fallen from an average of 150,000 new jobs per month early this year to about 25,000 by August. Research from Goldman Sachs economist Elsie Peng estimates slower immigration, reduced government hiring, and cuts to federal contract funding are costing the U.S. roughly 100,000 jobs each month, amplified by uncertainty in trade policy.

With those conditions piling up, Trump’s numbers on economic management are slipping sharply. According to the latest Quinnipiac poll,

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