Friday, May 6, 2011

Unemployment and the Obama Bounce

From: Commentary Magazine

President Obama’s overall approval ratings have spiked since the killing of Osama bin Laden, but approval of his handling of the economy has not. And the new unemployment numbers out today may be a problem for the president as he tries to hold onto his bounce in the polls. While job creation was higher than expected in April, the unemployment rate rose from 8.8 percent to 9 percent—the highest increase in a year and a half.

Investor’s Business Daily looked into the poll numbers, and found that Obama’s economic approval rating has actually declined since the killing of bin Laden:

None of the polls showed an Obama bump rubbing off on opinions of his economic stewardship. In fact, his handling of the economy received lower post-bin Laden grades in both the IBD/TIPP and Times/CBS surveys. The Times/CBS poll showed just 34% approving of how Obama is grappling with the nation’s high jobless rate, debt crisis and rising gas prices. Last month, 38% approved. The drop in the IBD/TIPP poll was two points to 30%.

The major daily tracking polls are still showing overall gains for Obama, but as news coverage of the bin Laden raid starts to fade, the president’s approval ratings will likely fade as well. Some commentators have said that the bin Laden killing locked up a 2012 reelection for Obama. But unless he begins to see better news about the economic recovery, the president won’t be able to keep the momentum going for much longer.

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