|Assume the economy continues to add 230,000 to 240,000 jobs a month and that labor force participation remains the same and it would take about 34 months to hit 5% unemployment, or basically until the end of 2014.|
Then again, a better number for the president to shoot for would be 341,157 - that's how many jobs would need to be added on average in each of the next six months to bring the unemployment rate to 7.2%, which was the unemployment rate when Ronald Reagan won his re-election in 1984. No incumbent presidential candidate has won re-election with a higher unemployment rate than that since Franklin Delano Roosevelt did it in 1936 and 1940. (Hat tip to @TheStalwart and @ModeledBehavior for pointing out this calculator) >To submit a news tip, email: firstname.lastname@example.org. Follow TheStreet on Twitter and become a fan on Facebook.