(NewsNation) — President Joe Biden is officially hitting the campaign trail ahead of 2024, but polling data shows more than half of Americans aren’t happy with his performance.

Biden’s approval ratings have dipped into the 40s, and sometimes even lower, putting him behind previous presidents, measured at the same point of their time in office. It also puts him behind where former President Donald Trump was at this stage in his presidency, according to data from FiveThirtyEight.

Of course, historical data doesn’t take into account recent events that could influence voters in 2024. Trump is facing two indictments, one of which includes charges regarding the mishandling of information critical to national defense. Biden, meanwhile, has been criticized by those who are concerned his age could be an issue in a second term.

While the Republican primary field is already crowded, only two Democratic challengers have stepped up to challenge Biden so far. Marianne Williamson and Robert F. Kennedy, Jr. are both considered longshots for the nomination, with polling data suggesting a majority of Democrats would choose Biden for the nomination.

Indeed, Biden leads Trump, who remains the presumed front-runner for the Republican nomination, by four points.

However, polling from NewsNation and Decision Desk HQ found just under half of Americans would consider voting for a third-party candidate if the 2024 election were a Trump-Biden rematch.

While polling data can tell where voters stand now, there’s a lot of time between now and the summer of 2024, when both parties will officially announce their nominees and a lot can happen between now and then.