It's that week for economic news, where the all important unemployment numbers come out. The bad news for the Obama Administration is that the US Economy didn't come close to reaching estimates for job creation. The good news is that the overall rate dropped 1/10th of a point to 8.2%, which is the lowest overall rate since he took office...
So, the big question is where are we headed? Who knows for sure, but when you are expected to create 205,000 jobs , and you only create 120,000 it's not good... Part of the low numbers may have to do little with business.... Like what? How about the weather? Yeah, we're serious... You see, January and February were much warmer than usual, so many of the businesses that normally wait until Spring to hire got a month or two jumpstart on the year. That's good for then, but it appears to have caught up in March... Other things are iffy numbers on housing and a lot of impending forclosures that are getting ready to be unleashed.
If this is the start of another economic hiccup, then this does not bode well for Barack Obama. Why? Because this month starts the all-important six month period before the General Election.. This is an economy election, and like we proved a month or two ago, this is the measure voters use to decide to re-elect a President, or vote in the other guy. According to the data, ANY negative change or even no change will result in a Mitt Romney win. If the number goes down at all, Obama will be re-elected. Don't believe it if you like, but 15 out of 16 is pretty solid evidence...
So, April will be a key month, and in more ways than one... First, is the economy slowing down, or is it just a blip? Second, April's number will be the benchmark for what determines the winner and loser in November. Right now, we'll have to just wait it out, then make our long term predictions....
.
No comments:
Post a Comment