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Misinformation?


SEC=UGA
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I may be wrong...

 

I was reading a CNN article today and it is talking about the "Jobs Gap". Stating that Bush had a larger one (jobs lost vs. jobs gained) than Obama. So, I'm tying to make some sense of this because it just doesn't seem to be "realistic", for lack of a better word.

 

As their methods and data aren't clearly outlined I'm wondering from where they are deriving their numbers.

 

Sooo... I head over to the BLS data tables and to make life simple I start looking at july employment numbers from 2002 - today. Here is the total non-farm payroll data (in thousands):

 

2002 - 130,275

2003 - 129,865

2004 - 131,488

2005 - 133,981

2006 - 136,167

2007 - 137,647

2008 - 137,038

 

2009 - (Jan was 133,561) 130,164

2010 - 129,963

2011 - 131,407

2012 - (Jan was 132,409) 133,245

 

We all know that the 2002 number 0f 130,275 is lower than what the 2000 and 2001 numbers were (most likely) and I found a 2000 nonfarm payroll number of roughly 132,000.

 

During the first 3 years of the Bush admin we lost 2.2 million jobs. It bean to rebound and by the end of his term, in 2008, there were roughly 5 million more jobs than when he took office according to these numbers.

 

During the Obama administration we started losing jobs, a little less than 7 million (yes, I know the recession started under Bush.) Now, since the recovery started, the US has added 3.3 million jobs.

 

First, there are 3.8 million fewer jobs now than when Bush left office, so even if Obama does get credit for the addition of all of the jobs that have been created, he's still at a deficit from the total number of jobs that existed at the end of 2008.

 

Finally, these numbers clearly show that when Bush left office, there were roughly 5 million more jobs than when he came into office.

Edited by SEC=UGA
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OK, I love pizza, especially when it's free. Please tell me where these restaurants are.

 

 

I know one that does, but you have to show up and bike 50 mi on Saturday morning to get it, which depending on your motivation may be more cost than you are willing to burden.

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