JOBLESS CLAIMS FALL AGAIN – AT 8:45 A.M. ET:  More good news for the White House.  Claims for unemployment benefits fell again last week, creating at least the impression that the recovery is gaining steam.  It will take months to determine whether this is actually true, but a positive psychological setting is obviously helpful to the Obama campaign.  From Bloomberg:

The number of Americans filing first- time claims for unemployment insurance payments unexpectedly declined last week, indicating the labor market recovery is gaining traction.

Applications for jobless benefits decreased 15,000 in the week ended Feb. 4 to 358,000, Labor Department figures showed today. Economists forecast 370,000 claims, according to the median estimate in a Bloomberg News survey. The four-week moving average, a less-volatile measure of claims, declined to 366,250, the lowest since April 26, 2008.

The easing of dismissals is moving in tandem with a drop in the unemployment rate, which fell in January to a three-year low of 8.3 percent. Job creation also accelerated last month, showing the world’s largest economy is making headway in restoring the 8.3 million jobs lost during the 2007-2009 recession.

COMMENT:  There are some complicating factors here, but people read the headlines, which are optimistic.  However, much can happen between now and November, including a foreign crisis, or even military action, so all this statistical stuff is very tentative.

However, if Romney is the GOP nominee, and the economy improves, the very reason for electing him starts to melt away.  That factor is adding to the new worries about Romney resulting from the drubbing he took on Tuesday.

February 9,  2012