Six‑Figure Earners Barely Break Even on Trump (+0.6%) While Wall Street Bleeds Trillions

The U.S. economy is in an era of historic uncertainty. A recent report from the Bureau of Labor Statistics shows that real American economic output fell by 0.3% in the first quarter of 2025. Additionally, the Consumer Sentiment Index just hit its lowest point since the onset of the COVID-19 pandemic — and the VIX, an indicator of stock market volatility, recently hit its highest level since the start of the pandemic.

These troubling signs are attributable, in no small part, to the economic policies of President Donald Trump — specifically, his sweeping implementation of tariffs on U.S. trading partners. The Trump administration maintains that global tariffs are a necessary means of revitalizing American manufacturing, reducing the national debt, and shoring up the U.S. economy — even if these policies do result in some short term pain. (Here is a look at the biggest geopolitical conflicts Trump will have to confront.)

Whether the administration’s prescription is ultimately vindicated remains to be seen, but ongoing turmoil in the U.S. economy has fueled a precipitous drop in public support for President Trump’s economic agenda. As of late February, before most of the Trump tariffs were announced, 49.2% of all registered voters approved of the administration’s handling of the economy, compared to 42.5% who disapproved. Now, as of late April, the president’s economic approval rating is underwater, with 49.8% of voters disapproving, and only 43.6% approving.

While unpopular with a majority of American voters, there are certain demographic groups of Americans who are still more likely than not to approve of how the Trump administration is managing the economy.

Using data from public opinion research company Morning Consult, 24/7 Wall St. identified the Americans who still support Trump’s economic policies. We reviewed polling results among multiple demographic groups and subgroups — including gender, race, religion, educational attainment, employment status and sector, income, age, voting history, and political ideology and affiliation, among others — and ranked them on the net approval rating of Trump’s handling of the economy, or the share of voters who approve of his policies less those who disapprove. All survey data was collected between April 25 and April 27, 2025.

Only demographic groups with which Trump has a positive net-approval rating for his handling of the economy were included on this list. Among these 12 subsets of Americans, net-approval of Trump’s economic policies range from +0.6% to +63.7%. For context, among all registered voters, Trump’s economic approval rating is 6.2 percentage points underwater. (Here is a look at why consumer confidence is cratering.)

Perhaps not surprisingly, the strongest predictors of public opinion towards the president’s economic policies are political. The highest-ranking demographic groups on this list include registered Republicans, Americans who voted for Donald Trump in the 2024 election, and Americans who identify as ideologically conservative. While distinct, these groups have overlapping membership.

For other, non-political demographic categories, the survey’s findings were less obvious. Christians, for example, approve of Trump’s economic policies by a 6.8 percentage point margin, and Americans living in rural areas, by 4.5 percentage points. Americans living in the South, private sector workers, and workers with six-figure salaries are also more likely than not to approve of President Trump’s handling of the economy.

These are the Americans who still approve of Trump’s economic policies.

Why It Matters

Within his first 100 days in office, President Donald Trump imposed across the board tariffs on American trading partners — a move that may present the biggest disruption to global trade in decades. The administration’s policies have fueled a surge in economic uncertainty, triggered a mass sell off in domestic and global markets, and undermined public confidence in the President’s economic agenda. But while most Americans are now critical of Trump’s handling of the economy, certain segments of the population remain optimistic that the administration’s policies will ultimately benefit the United States.

12. Workers earning over $100,000 per year

• Net-approval rating of Trump’s economic policies among demographic group: +0.6%
• Share of demographic group who approve of Trump’s handling of the economy: 48.7% (27.0% strongly approve; 21.7% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 48.2% (36.4% strongly disapprove; 11.8% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 3.1%

11. Private sector workers

• Net-approval rating of Trump’s economic policies among demographic group: +2.6%
• Share of demographic group who approve of Trump’s handling of the economy: 48.2% (27.7% strongly approve; 20.6% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 45.6% (33.0% strongly disapprove; 12.6% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 6.1%

10. Residents of rural communities

• Net-approval rating of Trump’s economic policies among demographic group: +4.5%
• Share of demographic group who approve of Trump’s handling of the economy: 48.8% (29.0% strongly approve; 19.7% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 44.3% (34.3% strongly disapprove; 9.9% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 7.0%

9. Americans living in the South

• Net-approval rating of Trump’s economic policies among demographic group: +4.9%
• Share of demographic group who approve of Trump’s handling of the economy: 49.0% (30.0% strongly approve; 18.9% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 44.0% (34.3% strongly disapprove; 9.7% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 7.0%

8. Men

• Net-approval rating of Trump’s economic policies among demographic group: +5.8%
• Share of demographic group who approve of Trump’s handling of the economy: 51.0% (29.5% strongly approve; 21.5% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 45.2% (32.8% strongly disapprove; 12.4% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 3.8%

7. Christians

• Net-approval rating of Trump’s economic policies among demographic group: +6.8%
• Share of demographic group who approve of Trump’s handling of the economy: 50.8% (28.4% strongly approve; 22.4% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 44.0% (32.5% strongly disapprove; 11.5% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 5.2%

6. Evangelical Christians

• Net-approval rating of Trump’s economic policies among demographic group: +21.6%
• Share of demographic group who approve of Trump’s handling of the economy: 57.2% (33.7% strongly approve; 23.5% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 35.6% (24.2% strongly disapprove; 11.5% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 7.2%

5. Ideological conservatives

• Net-approval rating of Trump’s economic policies among demographic group: +57.4%
• Share of demographic group who approve of Trump’s handling of the economy: 76.4% (48.9% strongly approve; 27.4% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 19.0% (10.4% strongly disapprove; 8.6% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 4.6%

4. Republican women

• Net-approval rating of Trump’s economic policies among demographic group: +59.6%
• Share of demographic group who approve of Trump’s handling of the economy: 76.0% (46.5% strongly approve; 29.6% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 16.4% (7.8% strongly disapprove; 8.6% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 7.6%

3. Registered Republicans

• Net-approval rating of Trump’s economic policies among demographic group: +61.5%
• Share of demographic group who approve of Trump’s handling of the economy: 78.3% (49.2% strongly approve; 29.2% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 16.8% (6.9% strongly disapprove; 9.9% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 4.9%

2. Republican men

• Net-approval rating of Trump’s economic policies among demographic group: +63.2%
• Share of demographic group who approve of Trump’s handling of the economy: 80.2% (51.4% strongly approve; 28.8% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 17.1% (6.0% strongly disapprove; 11.0% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 2.7%

1. Americans who voted for Donald Trump in 2024

• Net-approval rating of Trump’s economic policies among demographic group: +63.7%
• Share of demographic group who approve of Trump’s handling of the economy: 79.0% (47.1% strongly approve; 31.9% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 15.4% (6.4% strongly disapprove; 9.0% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 5.6%

The post Six‑Figure Earners Barely Break Even on Trump (+0.6%) While Wall Street Bleeds Trillions appeared first on 24/7 Wall St..