Shrinking as a percentage of the total electorate over time. In 1960 80% of Americans identified themselves with either the Democratic or the Republican Party. By 1980 that had dropped to 70%, from then on until 2006, the 30% who fell into the independent’s column remained fairly constant at 30% while the two major parties had their ups and downs. Independents had a high of 36% in 1992 mainly caused the Perot candidacy, but quickly fell back. Independents low during the time period between 1980 and 2006 was 28% back in 1990. But for the most part, independents hovered around 30%. Independents hit 35% in 2009 while the share of those who identified with the two major parties shrunk to 60%. Independents hit 40% in 2013 and if Gallup is correct, as of 17 Oct 2021, independents now consist of 44% of the electorate which each major party stands at 26% for a total of 52% who now identify with the major parties.
Granted these numbers are dynamic and they change month to month. What grabs my attention is for the first time since FDR, the two major parties are at relative equal strength or among those who self-identify with both major parties.
https://www.pewresearch.org/politics/interactives/party-id-trend/