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Photo: Alex Wong/Getty Images

Americans' satisfaction with how things are going in the U.S. has plunged 32 points to 13% since reaching a 15-year high in February, per Gallup polling released Tuesday.

Why it matters: The result, which marks a nine-year low for the metric, comes amid mass unemployment, civil unrest and the nation's coronavirus surge — and as President Trump tries to win another term in November.

  • The all-time low for American satisfaction was in October 2008 during the depths of the Great Recession (7%). Gallup has tracked the metric since 1979.

Between the lines: Republicans are leading the fallout, but they don't blame Trump.

  • Republicans' satisfaction in the poll hit 20% — down from 39% a month ago. The prior low for Republicans during the Trump administration was 38%.
  • However, Trump's approval rating remains at 91% among members of his party.

Yes, but: Independents, a key 2020 demographic, show falling satisfaction with both the state of the nation and Trump himself.

Methodology: The Gallup poll was conducted from July 1 through July 23 and is based on interviews with a random sample of 1,007 adults. The margin of error is +/- 4.

Go deeper

Dion Rabouin, author of Markets
Oct 28, 2020 - Economy & Business

Stocks remain at historically high valuations

Data: FactSet; Chart: Danielle Alberti/Axios

The latest mini-selloff in U.S. equities sent the S&P 500's price-to-earnings ratio to a recent low of 21.1, but the metric remains highly elevated by historical standards — above the five-year average (17.3) and above the 10-year average (15.5), per FactSet.

By the numbers: "There has been a lot of volatility in the forward P/E ratio this year, falling as low as 13.1 on March 23," FactSet senior earnings analyst John Butters tells Axios in an email. "However, the forward 12-month P/E ratio has been above 20.0 pretty consistently since May, peaking at 23.4 on September 2. Prior to this year, the last time the forward 12-month P/E ratio was at or above 20.0 was April 10, 2002."

Scoop: Trump tells confidants he plans to pardon Michael Flynn

Photo: Alex Wroblewski/Getty Images

President Trump has told confidants he plans to pardon his former national security adviser Michael Flynn, who pleaded guilty in December 2017 to lying to the FBI about his Russian contacts, two sources with direct knowledge of the discussions tell Axios.

Behind the scenes: Sources with direct knowledge of the discussions said Flynn will be part of a series of pardons that Trump issues between now and when he leaves office.

Erica Pandey, author of @Work
4 hours ago - World

Remote work shakes up geopolitics

Illustration: Eniola Odetunde/Axios

The global adoption of remote work may leave the rising powers in the East behind.

The big picture: Despite India's and China's economic might, these countries have far fewer remote jobs than the U.S. or Europe. That's affecting the emerging economies' resilience amid the pandemic.