Bad economy? What exactly does the economy actually mean.

Every since Biden has become POTUS, the MSM and Republicans talk about the bad economy. But what exact makes an economy good or bad. Under Trump, they talked about the big stock market number as if that was the barometer (I never thought that that should be a gauge)….they have always talked about jobs and unemployment as being “the economy”…..and this is why I am so confused now because the job market is so great now that anyone for the most part can get a job and they are getting paid more. Unemployment is really low, and the stock market is still high….but the republicans along with the media is all doom and gloom…..now all of a sudden the have switched the barometer and made it all about gas and inflation as being “the economy”