Despite a bounce in his overall rating, approval of President Obama's handling of the economy hit an all-time low in a CBS/New York Times poll released Wednesday.

The president's overall approval rating jumped 11 points; 57 percent of those surveyed said they approve of the way Obama is handling his job, up from 46 percent who said the same in a mid-April poll.


Obama's overall bounce comes after last weekend's successful U.S. operation to kill Osama bin Laden in Pakistan. Other polls have reflected a bump in Obama's approval ratings, which political analysts say is likely a result of the killing of bin Laden.

But the president's success on that front doesn't appear to have translated into a higher opinion of his stewardship of the economy.

Just 34 percent of Americans said in the CBS/Times poll that they approved of the way Obama was handling the economy, the lowest point since he took office. That figure also reflects a downward slide since mid-February.

Fifty-five percent said they disapprove of the way Obama is handling the economy, not the lowest figure of his presidency (that was 57 percent, in mid-April), but close to it.

Whether Obama's bounce can be sustained and translated into political momentum for the administration remains to be seen.

But the economy and job creation are widely expected to be among the biggest factors in Obama's reelection effort. A key measure of that will come on Friday, when the Commerce Department releases figures on job growth in April.

The CBS/NYT poll
, conducted May 2-3, has a 4 percent margin of error.