TALK BACK: Jobless Rate Improves, How Do You Think it Will Impact the Campaign?
During the presidential debate Tuesday Romney emphasized the high jobless rate over the past four years. But a new report shows the unemployment rate has dropped to 7.8%.
Mitt Romney pounded in the fact that the U.S. economy has been dragging along at the bottom and has built his campaign on the high unemployment rate over the past four years during the Obama administration.
And the number of jobs created has increased over what was predicted according to a Washington Post report today.
Today Obama took advantage of the favorable news. Speaking at a campaign stop in Virginia. “This morning we found out the unemployment rate has fallen to the lowest level since I took office. More Americans entered the work force, more people are getting jobs,” the president said during a rally at George Mason University.
But Republicans were quick to point out that the 7.8% unemployment rate remains high, most economists believe full employment would be something in the 6% range.
“While today’s unemployment report offered some encouraging news, it simply isn’t good enough,” added Eric Cantor (R-Va.), the House Majority Leader, in a statement. “7.8% unemployment should not be cause for celebration.”
A comment on Patch by Mitch Skandanavian of Dunwoody today on noted: "The numbers will no doubt be revised in 4 months, notwithstanding, tough news for the Red team."
What do you think? Is the positive news about the unemployment rate a big enough factor to give Obama the edge at the polls on Nov. 6?