Today’s jobs report is all good news for the country, and bad news for Republicans who are hoping that a failing economy is all they need in order to unseat President Obama. The economy added 243,000 jobs in January, 257,000 in the private sector, driving the unemployment rate down to a three-year low of 8.3 percent from 8.5 percent in December and 9.1 percent in August. Previous job-creation estimates for November and December were revised upwards by 60,000. Add that average hourly earnings ticked up, and don’t be surprised at more than a little chortling from the White House.
Happy days, however, might not be here again: Almost 24 million Americans continue to look for full-time work, and over 5 million have been unemployed for 27 weeks or longer. But the trend is in the right direction, and if it continues, the president will surely claim credit, and demand more stimulus and whatever else he can tie to the improvement in the jobs market.
