The Bureau of Labor Statistics has announced the good news from the June jobs report. The American economy created 288,000 jobs and the jobless rate fell to 6.1 percent. It is important to note that the labor participation rate remained steady, which means the fall in the jobless rate was caused by new jobs and fewer layoffs, not workers dropping out of the labor force.
My view is that President Obama's favorable numbers are directly tied to public opinion about the economy. Americans will celebrate the July Fourth weekend with the media reporting the good news about jobs for the next three or four days. Let's watch the Gallup Daily tracking poll and other polling and look for improvement in Obama's numbers. If this continues, which is very possible, it is good news for Democrats in the 2014 elections.
Budowsky was an aide to former Sen. Lloyd Bentsen (D-Texas) and former Rep. Bill Alexander (D-Ark.), who was then chief deputy majority whip of the House. He holds an LL.M. degree in international financial law from the London School of Economics. Contact him at firstname.lastname@example.org.