This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Mitt Romney Needs a New Economic Gripe

NEW YORK ( TheStreet) -- Mitt Romney might need a new campaign message.

The February unemployment rate held steady at 8.3% from January while the labor-force participation rate increased, meaning more people were looking for jobs.

When the U.S. Bureau of Labor Statistics reported last month better-than-expected January unemployment numbers, Romney's typically critical response to blame President Barack Obama for sluggish growth seemed a bit more subdued.

"We welcome the fact that jobs were created and unemployment declined," Romney said in a statement on Feb. 3. "Unfortunately ... Nearly 24 million Americans remain unemployed, underemployed, or have just stopped looking for work. "

Romney has yet to issue a statement Friday on the February jobs report.

It's true that millions of Americans are unemployed, underemployed and not looking for work, but the economy added another 227,000 jobs in February -- the third straight monthly uptick -- and showed an upward revision of 61,000 jobs created in December and January.

Moreover, the labor force participation rate increased to 63.9%, up from 63.7%. Republican candidates have bemoaned this statistic as they've suggested unemployment has ticked slightly downward in recent months because the long-term unemployed have given up hope for work.

What looms for Romney, who seems likelier to win the GOP nomination for president, is to figure out how he might overhaul a campaign message that is heavily dependent on a sluggish economy with high unemployment as prospects begin to trend positively for Americans.

Unemployment could tick back up and labor-force participation rates could decline -- both of which help keep Romney on message. If these figures favor growth, however, it could be difficult for the former Massachusetts governor to convince undecided voters that choosing him would be better for the economy. It would be particularly difficult if the incumbent president appeared to be righting the shipwreck that began with the 2008 financial crisis his administration inherited.

Another scenario between now and November would be modest economic growth and a drop in unemployment, which would allow Romney to slam Obama for a lack of healthy recovery. In this case, Romney still can't be counted out as a legitimate contender to ascend to the White House.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,908.70 +103.90 0.58%
S&P 500 2,074.84 +4.19 0.20%
NASDAQ 4,776.60 +11.22 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs