Obama’s Re-Election Chances Rise With Signs of Improvement in U.S. Economy [View all]
The economy is looking better to the American public and with it President Barack Obama’s re-election prospects.
Claims for jobless benefits unexpectedly dropped last week to the lowest level in almost four years, providing fresh evidence the job market is on the mend, and reports released yesterday on housing and manufacturing also beat forecasters’ expectations.
The Bloomberg Consumer Comfort Index climbed for a fourth straight week to reach the highest level in a year. Sentiment is rising even among those who have yet to benefit from the recovery, as payrolls expand and the unemployment rate drops. Jobless Americans are the most optimistic since April 2008.
“Political independents have a markedly better view of the prospects for better times than they did just a few months ago, and Obama is running much more strongly among independents than he was a few months ago,” Andrew Kohut, president of the nonpartisan Pew Research Center in Washington, said. “Reports such as those out yesterday will only reinforce this notion that things are getting better.”