“Which Campaign Would You Rather Be At This Point?”

Andrew Sullivan —  Oct 5 2012 @ 5:38pm

Ambers asks:

I still think that the debate matters more than the [jobs] numbers. Romney had an audience of 50 million people and proved that he belonged to stand next to the president of the United States. For many Americans, anemic growth is the new normal, and the sense that the economy is gradually getting better is priced into the stock that both candidates hold. Those voters looking elsewhere solely because of the economy have probably already chosen Romney. If they're looking anew at Romney, it may be that his presentation mattered more than what he said. He simply is another option now.

And yet: Here is one time when the reality may be better than the perception. The BLS revised upwards the economic growth for the past few months, and there is evidence that the job growth is keeping pace with a larger number of people entering the labor force. That is, the ratio of those who left the market to those who entered it is declining quickly. This is probably why people feel like the economy is getting better and are resistant to the argument that it is not. Now there's hard data to back up that impression.