The Australian National University study of more than 3700 people in January found only about one-third had a "great deal" or "quite a lot" of confidence in the government.
It's the lowest level of confidence in the Morrison government since the start of the COVID-19 pandemic, and well down on the high of 60 per cent in May 2020.
Mr Joyce said the government needed to look forward ahead of the upcoming election.
"You learn from your past and you do better and you understand what went wrong," he told the Seven Network on Monday..
"You don't win elections on what happened a year ago or a month ago, or even a year ago. It depends on what happens in the future."
The ANU survey findings come after the latest Newspoll was released, which showed the government narrowing the gap slightly to Labor, but still trailing 45-55 on a two-party preferred basis.
The coalition remain on a low of 34 per cent primary vote, while Labor's primary vote has stayed at 41 per cent.
Despite the results from the polls, Labor MP Joel Fitzgibbon said the result at the upcoming election was not assured.
"We certainly do not believe we have it in the bag, we are still three months or more from an election and three months is an eternity in politics," he said.
"We are entitled to be feeling confident about the next election, but we do not take anything for granted.
The study's co-author Professor Nicholas Biddle said satisfaction with the direction of the country dropped between October and January.
"Clearly the handling of the pandemic and the ongoing wave of Omicron infections is starting to take a real toll on how all major institutions are viewed by Australians," he said.
"One of the potential reasons for this drop ... is that respondents don't feel that key institutions are handling the pandemic as well as they have in the past, or as well as they should be doing given the current circumstances."
Federal Treasurer Josh Frydenberg said the poll results were not a cause for concern.
"We're getting the big things right, obviously protecting people's health, helping keeping them in a secure job and ensuring our national security is enhanced," he told ABC Radio.
"There's been a lot of noise, there's been a very disappointing summer for many Australians, as either they've contracted Omicron or had the holidays disrupted and that has led to understandable frustration."