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Tuesday
Feb142012

Obama Job Growth

By now I'm sure you've seen the chart popping all over the internet showing jobs decreasing under Bush and everything turning around bright and sunny under Obama.  If you haven't here it is:

First thing off the bat that caught my eye was how they start the chart at Jan 2008.  This is well after Democrats took control of both the House and Senate and had plenty of time for their policies to begin taking effect.

Then I noticed it stopped at March 2011, why?  The data is available well after that date, why stop showing how well Obama has been doing.  Oh wait, in April 2011 job growth fell another -190 and in June 2011 it feel another -445.

Here is the data in full as provided by the Bureau of Labor Statistics:

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec                  Annual
2002 -346 737 -261 -51 413 -124 -2 292 597 -294 -487 -95 379
2003 991 65 -48 199 -89 246 -316 75 60 375 440 -13 1985
2004 61 70 -89 227 172 322 382 17 -86 245 499 -106 1714
2005 120 140 269 600 355 105 312 408 -33 147 -49 253 2627
2006 398 307 284 20 328 264 -151 423 190 499 220 436 3218
2007 58 29 263 -734 317 160 -158 -223 562 -298 649 -322 303
2008 124 -240 -49 22 -201 -191 -208 -334 -137 -267 -714 -750 -2945
2009 -1141 -527 -906 -100 -360 -291 -112 -433 -683 -374 206 -639 -5360
2010 532 165 171 470 34 -203 2 199 6 -272 -135 283 1252
2011 110 221 213 -136 180 -423 65 304 353 190 317 176 1570
2012 847










847

(numbers in thousands)

We took a hit after 9-11 and you can see the economy was unstable going into 2002 but Bush with Republican control kept the country headed in the right direction.

It wasn't until well into 2006 after Democrats swept the house and senate that we saw any real down turn.

In 2010 the government dumped a ton of money into the economy with the American Recovery and Reinvestment Act of 2009, otherwise known as the Obama stimulus.  One of the criticisms of the stimulus however is that the money spent will be divided over several years, we're currently in those years.  What happens when the spending stops?

Of the 3,669,000 jobs created since 2010 how many are permanent that can sustain themselves without government having to take wealth from others to create the impression of job growth?

The other factor this chart doesn't account for is underemployment.  This would be someone working at a high paying job who became unemployed settling for half or even less of their current salary just to get back to work.

The other question to ask is at what cost are the jobs we're seeing coming at?  Obama's new budget has nearly 1 trillion in deficit spending, a debt that will be passed on to our children.  And even with this out of control spending we still have over 4.6 million jobs still to be created just to get us back to close to where we were before Democrats took control of the House and Senate.

 

 

 

 

Reader Comments (3)

They update the chart on a monthly basis. Here is one link to the current chart:

http://reasonableconversation.blogspot.com/2012/02/obama-for-america-releases-interactive.html

There has been private sector job growth for 23 consecutive months, since March 2010.
February 15, 2012 | Unregistered CommenterIt didn't stop in March 2011
The link you just supplied is factually incorrect. As you can see in the data I took directly from the department of labor's website there were two months in 2011 with negative job growth. That link you provide doesn't show any negatives in 2011.

And for the record the chart I supplied came from ads posted on facebook and yahoo.
February 15, 2012 | Registered CommenterRick Barnes

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