High fives in the White House

Much more important for Obama’s reelection than any stupid things Mitt Romney may say about his wealth, etc., is the jobs situation.  The best news about the latest unemployment figures is not just that the unemployment rate when done, but we seem to be creating jobs at an increasing rate.  That great news for pretty much everybody except Mitt Romney.  While the big picture economic picture is still not good by any stretch, I think there’s pretty good evidence that it’s the trend, as much as anything, that matter in elections.  Of course, this is just February and much could happen, but, if the trend in job growth actually continues to accelerate, things would be looking very good for Obama in November.   As for the jobs numbers, I liked Jared Bernstein’s take and that he included a handy trendline in his graph:

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About Steve Greene
Professor of Political Science at NC State http://faculty.chass.ncsu.edu/shgreene

2 Responses to High fives in the White House

  1. swissecon says:

    Ever heard of the different definitions of unemployment? The most accurate measure is probably the so-called U6 unemployment rate:

    http://portalseven.com/employment/unemployment_rate.jsp

    By that measure, about 15 percent are unemployed. Down from about 17 percent in 2010 but up from 9 percent in 2008.

  2. Steve Greene says:

    Ummm, yes. And that changes what I wrote how exactly?

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