Bloomberg by the Numbers: 69%

Photograph by Saul Loeb/AFP via Getty Images

President Barack Obama greets store employees while shopping at a Gap store in New York City on March 11, 2014 to highlight his proposal to raise the federal minimum wage.

Sixty-nine percent of American adults back President Barack Obama’s plan to raise the federal minimum wage to $10.10 from $7.25 over three years.

That’s one of the findings from a Bloomberg National Poll conducted March 7-10.

Obama, congressional Democrats and the AFL-CIO back a minimum wage increase, saying it’s needed to provide income support for workers with stagnant wages.

Most Republicans say raising the wage would led to job losses, pointing to a Congressional Budget Office report projecting that a $10.10 federal minimum wage by late 2016 would reduce total employment by about 500,000. The report also said the wage hike would lift incomes for about 16.5 million low-wage workers. (Click here to see what poll respondents said about that tradeoff.)

Obama had a job approval rating of 48 percent, up from 42 percent in December, the survey found.

Obama is “rebounding from record-low approval ratings as he remedies the botched rollout of his health-care website and moves past the budget standoffs of the last several years,” Julianna Goldman reported for Bloomberg News.

“Even so, majorities still disapprove of Obama’s performance across a broad spectrum of issues. They include the economy, a top issue for voters this year, which may threaten his party’s chances for retaining control of the U.S. Senate,” she wrote.

And while the Standard & Poor’s 500 Index has jumped 176 percent in the past five years, just 21 percent say the market’s gains have made them feel more financially secure, Bloomberg’s David J. Lynch reported.

On the federal budget deficit, 57 percent disapprove of Obama’s performance compared with 34 percent who approve, even though budget shortfalls have been cut by more than half during his presidency. The deficit fell to $680 billion in fiscal year 2013 from a record $1.42 trillion in 2009.

Here’s the poll, a survey of 1,001 adults by Des Moines, Iowa-based Selzer & Co. The poll has a margin of error of plus or minus 3.1 percentage points. More findings from the poll will be published this week.

 

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