President Obama's approval rating has hit a new low, according to a third pollster.

The Quinnipiac University poll shows just 39 percent of Americans now approve of Obama's job performance, compared with 54 percent who disapprove.

The drop in Obama's fortunes appears directly tied to the rough rollout of his health care law, which has become significantly more unpopular since the Obamacare exchanges Web site went live on Oct. 1.

On Oct. 1, approval of both Obama and the health care law were at 45 percent. Today, Obama and the health care law are both at 39 percent approval. Over that same span, opposition to Obamacare has risen from 47 percent to 55 percent.

The poll is the first to show a significant increase in opposition to Obamacare since the exchanges were launched.

Obama appears to have suffered from his now-disproved promise that Americans who liked their insurance before the health care law went into effect could keep it. A majority of Americans -- 52 percent -- now say he is not honest and trustworthy, compared with 44 percent who say he is. In May, 49 percent said he was honest and trustworthy.

Obama's handling of the health care issue earns just 36 percent approval, compared to 60 percent disapproval.

Gallup and the Pew Research Center also showed Obama's approval rating hitting a new low last week. Gallup's daily tracking poll showed Obama bottoming out at 39 percent. He is now at 40 percent in their polling. Pew had him at 41 percent.

Updated at 4:33 p.m.