JACKSONVILLE, Fla. -- No matter how you slice it, January's drop in unemployment is encouraging news for our economy, but what does it do for our election?
Employers went on a hiring spree in January, adding 243,000 new jobs. That pushed the unemployment rate down to the lowest level in three years.
"The key variable that's going to be most important in determining what happens in November is going to be the economy," said UNF associate professor, Dr. Nicholas Seabrook.
The president has taken a lot of heat from voters who feel he hasn't done enough to create jobs. In fact his approval ratings remain at near record lows, all because of the jobs and the economy.
"When it comes to presidential elections voters hold the president responsible for what the economy is doing," said Dr. Seabrook. "While the numbers look good now, it's going to take a few more months of improvement to boost support for President Obama.
"If things continue to improve throughout 2012, you have to say that the President is going to be a favorite to be re-elected," said Seabrook.
As for the Republican candidates, experts say they'll have to knit-pick at unemployment rates to make them work in their favor.
"I'm sure the Republicans will point to the fact that if you look at what we call the true unemployment rate which includes discouraged workers as well, that hasn't been going down quite as quickly as the actual unemployment rate," said Seabrook.
