This is such a good point. And it’s something Democrats (I’m including myself in that) got wrong in the lead-up to the election. Correctly or incorrectly, regular people interpreted “the economy” as how their lives are going. And they said “the economy” is not great. Even when the Democrats were technically correct (the term “the economy” normally revolves around financial markets and macroeconomics), it’s clear that most people don’t care about that. They care about how they are doing.
A lesson worth learning.