The economy and President Obama’s positive approval ratings are improving. Auto sales and retail sales are up, new claims for unemployment compensation are down and Congress appears likely to pass the payroll tax cut extension.
To understand how the economy is doing, most people look to the unemployment rate. However, other indicators may be even more important. It all depends upon where the economy is in the business cycle.
The February jobs report is the best since the recovery began; unemployment went down from 8.5% to 8.2%; 257,000 private-sector jobs were added and black unemployment declined from15.8% to 13.6%.
The tax disclosure of Mitt Romney , showing he paid just 14% on $21 million of income, improving economic conditions and the rising approval ratings of the President are potential obstacles to the Republican’s bid for the White House.
