Voter confidence in President Donald Trump dropped after the latest jobs report, as a slowing labor market comes amid record highs for the stock market.

What Happened: A new poll shows Trump’s approval rating as one of the lowest since he took office in January for a second presidential term.

In the latest Morning Consult poll, voters have a 45% approval rating for Trump. This is down two percentage points over the last two weeks and ties a record low since Trump took office in January.

Trump's disapproval rating is 52% in the latest poll, up one percentage point over the past week. The disapproval rating is just shy of a record low for Trump in his second term.

Taken together, Trump's net approval rating stands at -7, which is the lowest for the president since last month.

Did You Know?

• Congress Is Making Huge Investments. Get Tips On What They Bought And Sold With Our Easy-to-Use Tool

What's Important to Voters: The new lower ratings for Trump come as major stock market indexes hit record highs.

The SPDR S&P 500 ETF Trust (NYSE:SPY), which tracks the S&P 500, hit another all-time high of $654.54 on Wednesday and has posted several records during 2025.

Voters appear to care more about Trump's handling of items like trade policy, energy prices and unemployment.

The latest poll came after the August jobs report showed only 22,000 new jobs added in the month, missing an estimate of 75,000 job adds. The 22,000 was significantly lower than the 79,000 added in July.

The unemployment rate rose to 4.3%, up from 4.2% in the latest report.

The Morning Consult poll found that 50% of voters disapprove of Trump's handling of the economy. This figure increased by three percentage points over the past week, likely due to the latest jobs report and unemployment rate.

Only 42% of voters approve of Trump's handling of the economy, down two percentage points in the past week.  

The net approval for Trump's handling of the economic hit -8, which Morning Consult said was a record low in their polls during either of Trump's terms in office.

Another area hurting Trump's approval rating is energy prices. While 41% of voters said they think Trump is prioritizing making energy cheaper, 57% said the president isn't doing enough. Voters were more likely to disapprove (45%) than approve (42%) of the handling of energy issues by the president in the latest poll.

Read Next:

• Trump’s Billionaire Backer Turns Critic -- Ken Griffin Warns President’s Fed Meddling Won’t End Well

Photo: Shutterstock