The new unemployment numbers show a joblessness rate of 8.3 percent.
From a political perspective, this is good news for the White House. Even though the Obama Administration projected that the unemployment rate today would be about 2-percentage points lower if the so-called stimulus was adopted, most people aren’t looking at the numbers analytically.
Instead, what matters most is the trend. And since there’s been steady movement in the right direction, the President can say it’s somehow because of his policies.
Whether that’s true or not doesn’t matter. Politics is about perception. And since I began predicting, back in 2010, that Obama would win reelection if the joblessness rate was 8 percent or below, the folks at the White House should be smiling.
But there’s another group of people who should be happy. Republicans can argue that the improvement began almost precisely at the moment they took control of the House of Representatives.
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