Pres Bush: LOWEST 1st Term Unemploy. Rate Since Eisenhower! 3.2 Million More Jobs than EVER!

Bureau of Labor Statistics ^ | 5 Mar 04 | BLS

[xzins]

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Data extracted on: March 5, 2004 (9:58:02 AM)

Labor Force Statistics from the Current Population Survey

Series Id:           LNU04000000
Not Seasonally Adjusted
Series title:        (Unadj) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent
Age:                 16 years and over

Year	Annual
1948	3.8
1949	5.9
1950	5.3
1951	3.3
1952	3.0	Truman AVG 2nd term = 4.4
1953	2.9
1954	5.5
1955	4.4
1956	4.1	Eisenhower AVG 1st term = 4.2
1957	4.3
1958	6.8
1959	5.5
1960	5.5	Eisenhower AVG 2nd term = 5.5
1961	6.7
1962	5.5	Kennedy AVG 1st term = 6.1
1963	5.7
1964	5.2	Johnson AVG 1st term = 5.5
1965	4.5
1966	3.8
1967	3.8
1968	3.6	Johnson AVG 2nd term = 3.9
1969	3.5
1970	4.9	No. of Jobs Link = 78,678,000
1971	5.9
1972	5.6	Nixon 1st	Nixon AVG 1st term = 5.8
1973	4.9
1974	5.6	Nixon 2nd	Nixon AVG 2nd term = 5.3
1975	8.5
1976	7.7	Ford 1st	Ford AVG 1st term = 8.1
1977	7.1
1978	6.1
1979	5.8
1980	7.1	Carter 1st	Carter AVG 1st term = 6.5	No. of Jobs Link = 99,303,000
1981	7.6
1982	9.7
1983	9.6
1984	7.5	Reagan 1st	Reagan AVG 1st term = 8.6
1985	7.2	No. of Jobs Link = 107,150,000
1986	7.0
1987	6.2
1988	5.5	Reagan 2nd	Reagan AVG 2nd term = 6.5
1989	5.3
1990	5.6	No. of Jobs Link = 118,793,000
1991	6.8
1992	7.5	GHWBush 1st	GHWBush AVG 1st term = 6.3	No. of Jobs Link = 118,492,000
1993	6.9	No. of Jobs Link = 120,259,000
1994	6.1	No. of Jobs Link = 123,060,000
1995	5.6	No. of Jobs Link = 124,900,000
1996	5.4	Clinton 1st	Clinton AVG 1st term = 6.0	No. of Jobs Link = 126,707,000
1997	4.9	No. of Jobs Link = 130,785,000
1998	4.5	No. of Jobs Link = 131,463,000
1999	4.2	No. of Jobs Link = 133,488,000
2000	4.0	Clinton 2nd	Clinton AVG 2nd term = 4.4	No. of Jobs Link = 135,208,000
2001	4.7	No. of Jobs Link = 136,933,000
2002	5.8	No. of Jobs Link = 136,486,000
2003	6.0	No. of Jobs Link = 138,479,000
2004 to date	5.6	GWBush 1st	GWBush AVG 1st term = 5.5	No. of Jobs Link (2 mo. avg to date) = 138,434,000

 

[xzins]

They report only the numbers of jobs that no longer exist. They don't report those that have been gained.

Let's say IBM canceled 5000 jobs and Ford canceled 5000 jobs in factory production during the recession. That's a running total of 10000 jobs that were lost. Now let's say that IBM & Ford, now that the recession is over, each hire 6000 people in automated technology/design.

You and I would talk about the net gain of 2000 jobs.

A democrat would say that you lost 10000 jobs.

It's like ONLY reporting the run scored by your opponent during a baseball game.

Those keeping a running total of lost jobs would say that we

[xzins]

They report only the numbers of jobs that no longer exist. They don't report those that have been gained.

Let's say IBM canceled 5000 jobs and Ford canceled 5000 jobs in factory production during the recession. That's a running total of 10000 jobs that were lost. Now let's say that IBM & Ford, now that the recession is over, each hire 6000 people in automated technology/design.

You and I would talk about the net gain of 2000 jobs.

A democrat would say that you lost 10000 jobs.

It's like ONLY reporting the runs scored by your opponent during a baseball game.

You and I would both wonder how many runs our team scored.

[olliemb]

Thanks for great explanation. Why don't the Bushes explain like this and why don't the pundits understand how you understand it so that it can be explained simply.

[wjcsux]

I won't believe it until Tommy Daschle tells me it is true!

[Howlin]

This article is interesting, isn't it?

CNN - 5.6% Unemployment is 'low' (1996), 5.6% Unemlpoyment is high (Today)
CNN ^

Posted on 02/27/2004 10:01:49 PM EST by Phisher

July 5, 1996 Web posted at: 5:50 p.m. EDT

WASHINGTON (CNN) -- Economists didn't expect June's unemployment rate to be much different from May's, which was an already-low 5.6 percent. But in fact, it did fall -- to 5.3 percent. The unemployment rate hasn't been that low since June 1990.

The Labor Department said Friday that businesses added 239,000 workers to their payrolls during June. The vast majority of the jobs added were in the service industry, including restaurants, bars, and agencies that place temporary workers.

Analysts said preparations for the Summer Olympics in Atlanta also helped boost the total.

Even the average wage rose for June, up 9 cents to $11.82 an hour. It was the biggest one-month wage increase on record, and indicates that not only are more people working, but they are being paid more for their work.

Economists noted that the boost in average hourly earnings, a key indicator of wage pressures, jumped 0.8 percent, the biggest monthly increase on record.

In January, analysts were concerned that growth was so anemic that the nation was in danger of a recession. But five straight months of strong job gains now have analysts worried more about inflation.

[xzins]

See my #66.

The CNN article comparison is an ABSOLUTELY GREAT find. Thanks.

[xzins]

Little Tommy's goin' down.

I don't live in SD, but I might just send Thune some money.

[Howlin]

Phisher posted it here:

http://www.freerepublic.com/focus/news/1087145/posts

in case you want to read their comments.

[xzins]

BTW, where do I get my member card for the IIIP (incredible interlocking institutional power)?

[Howlin]

If you are a member in good standing of the Vast Right Wing Conspiracy, I believe you are grandfathered in!

[expat_panama]

Great quotes. 5.6% is high for GW and low for Clinton. Never ceases to amaze...

[windchime]

"This is clear evidence to me that CNN has a "no good news policy" that is articulated privately to those on air. More than that, they have a "create bad news" policy in that it's a way to advance ones credentials in some way."

Bump!