Half of female respondents reported feeling more fearful, compared to 30% of men.
20 Oct, 2018FORTUNE.COM
President Donald Trump frequently boasts about his administration’s accomplishments, especially when it comes to the economy. GDP is up, the unemployment rate is down, and despite the ongoing trade war with a growing list of nations, he signed an updated deal with Mexico and Canada earlier this month.
But with all that said, Americans may not feel so financially secure. In a survey by the investment service Stash, just 40% of respondents reported an improved financial situation under the Trump administration.
Most cited a lack of wage increases as the primary reason for a lack of improvement. Others reported rising healthcare and housing costs, or the trade war’s impact on the economy.
Last month, Stash surveyed over 6,500 of its users (68% of whom are millennials and 65% male) to compile this data, according to the report. It also analyzed hundreds of thousands of data points from its users’ portfolios and transactions.
The result is not a very optimistic view into America’s current thoughts about finances. Over 65% of respondents feel the same or more fearful about their financial opportunities under the Trump administration, the report said.
And the divide between men and women is stark. Half of all women reported feeling more fearful, compared to 30% of men.
The survey did not address why female respondents are more fearful about their finances, but women do earn less on average than men for the same job. And since Trump took office--amid outcry over his thoughts on women, exemplified by the infamous Access Hollywood tape--the #MeToo movement has put a spotlight on the sexual harassment many women face at work, showing that some feared losing their career if they spoke out.
Stash’s data shows more differences between men and women than just fears about the future: 44% of male respondents reported an improved financial situation under Trump, compared to 23% of women. When looking at just men ages 65 and up, the divide gets wider. More than half of men in this age group--55%--reported an improved financial situation.
Gender divide aside, Stash found that 30% of all people are less inclined to invest in Asia-Pacific companies amid Trump’s trade war while 25% are less inclined to invest in European companies.
This number increases with age. Stash found 40% of people over 55 are less inclined to invest in both Asia-Pacific and European investments, compared to only 25% of millennials.