Confidence in Biden's ability to recover the U.S. economy drops: poll
U.S. President Joe Biden. /CFP

U.S. President Joe Biden. /CFP

The confidence in U.S. President Biden's ability to rescue the economy from COVID-19 has dropped to 44 percent as inflation surges, labor shortages and supply chain headaches continue, a new Axios-Ipsos poll showed.

"It's Democrats and independents driving the declining economic confidence, from 52 percent of all U.S. adults at the start of his presidency to 44 percent now. Their softening faith could hinder Biden's ability to lead and hurt Democrats' position heading into the 2022 midterms," said the poll.

Seventy-one percent of Democrats said they're confident that the Biden administration can ensure the economy recovers quickly after the COVID-19 pandemic, but that's down from 86 percent in late January just after Biden's inauguration, according to the poll.

Axios-Ipsos poll screenshot

Axios-Ipsos poll screenshot

U.S. inflation rose to a 13-year high of 5.4 percent in September 2021 as the costs of food and rent increased, cutting into consumers' purchasing power.

In August, 4.3 million workers in the United States left their jobs due to health concerns related to COVID-19, with a resignation rate of 2.9 percent, higher than July's 2.7 percent, according to the U.S. Labor Department. 

Supply chain disruptions also brought challenges for the president. The White House on October 13, gathered stakeholders including retailers Walmart and Home Depot, logistics firms United Parcel Service and FedEx to solve port headaches by adding more overnight shifts and working 24/7.

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