A Public Policy Polling survey revealed on Wednesday that President Obama is now tied with Republican Mitt Romney in the group's monthly national poll on the 2012 election race.
The survey shows that both candidates received a 45 percent vote in the recent poll.
The Gallup Polling organization also reports that Obama's job approval currently stands at 42 percent with 48 percent disapproving of his work.
President of Public Policy Polling, Dean Debnam states on their website, “There's a very good chance Barack Obama would lose if he had to stand for re-election today…This is his worst poll standing in a long time and he really needs the economy to start turning around."
Obama's approval rating has been in a slow decline as Americans grow weary of the 9.2 percent U.S. jobless rate, as well as the rising unrest between Republicans and Democrats over the U.S. debt ceiling.
Republican candidates have used these issues to question whether Obama is capable of strengthening America’s economy.
In a statement released by Romney he says, “Today’s abysmal jobs report confirms what we all know – that President Obama has failed to get this economy moving again.”
However, experts believe that even though Obama should have some doubt over recent poll outputs, panic should not immediately set in.
The President trailed Romney in the same poll last July only to regain the lead in the polls for 11 consecutive months.
Political analysts also believe that the Republican Party’s lack of stand-out candidates, as well as Obama’s vast advantage in financial contributions, the President has a strong chance of re-election come 2012.
CBS News political expert Brian Montopoli writes, “[the] President's relative popularity, coupled with the seeming weakness of the GOP field and the improving economy suggest that he is well positioned to secure a second term.”