(CNN) – A survey taken in the critical battleground of Ohio shows the race remains tight, with President Barack Obama holding a five point edge over rival Mitt Romney two weeks ahead of Election Day.
The Time Magazine poll released Wednesday showed Obama at 49% and Romney at 44% in the state, within the poll's three point sampling error. The number was derived from a survey of people who said they would vote November 6, and people who said they've already cast their ballot.
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The poll was taken October 22-23, meaning there was one night of polling after the final presidential debate on Monday.
Time's poll showed Obama and Romney both at 45% among respondents who said they would vote on Election Day, and Obama leading Romney 60%-30% among people who said they've cast early ballots. Early voting in Ohio began October 2.
Most observers, both Republicans and Democrats, expect Obama to win among early voters in Ohio, as he did in 2008. But Republicans say their improved voter turnout effort will put them ahead of where they stood four years ago on Election Day, pointing to early voting results showing outsized proportions of Republicans casting early ballots in some of the state's largest counties.
The Republican effort, however, isn't necessarily reflected in Ohio voters' perception of the race. Asked in Wednesday's poll who they thought would win the presidential election, 52% named Obama and 36% said Romney.
Among independents who said they would vote on Election Day, Romney led Obama 55%-32%. Independents who said they already voted went for Obama, 55%-29%.
A Fox News survey conducted after the second presidential debate on October 16 showed Obama edging Romney by three points, 46%-43%.
Other statistics included in the Time poll showed Obama leading among women in Ohio, 56%-37%, while Romney led among men 51%-42%.
The battle for Ohio's 18 electoral votes has been fiercely fought in recent days – Romney stumps in Cincinnati on Wednesday, while Obama makes a stop in Cleveland Thursday. Both vice presidential candidates have also been campaigning in the state this week.
In his criticism of Romney, Obama often points out the GOP nominee's opposition to the bailout of American auto companies, who employ a large number of Ohio residents. In the Time poll, there was a gap between the direction Ohioans saw the country moving, and the direction they saw their state headed.
Fifty-four percent of the respondents said the country was on the wrong track, compared to only 41% who said it was headed in the right direction. The figures for the state of Ohio itself were reversed: 51% said the state was going on the right track, while 43% said the opposite.
Whether credit for Ohio's improved economy goes to Obama, or to the state's Republican Gov. John Kasich, remains a contentious political point, though Wednesday's poll indicates Ohioans are aware their state is better off than the country as a whole. Ohio's unemployment rate is 7%, lower than the 7.8% nationwide rate.
The Time poll was conducted by telephone October 22-23 from 783 likely Ohio voters (or those who had already voted). The sampling error was plus or minus three percentage points.
CNN's Peter Hamby contributed to this report.