Bush's Job Growth WORST in 50 Years (Roll out the red carpet for this “staunch Bush supporter.”)

bopnews ^ | Hale Stewart

[intruder alert]

Bush’s giant Right Wing Noise Machine (RWNM) loves to preach about the Bush economic miracle. In fact, the RWNM’s current thinking is Bush doesn’t spend enough time talking about his economic triumphs. If only he did, then everyone would fall in line and believe in the great Bush economic miracle. There is one problem with this argument: it’s a lie. Any way you look at the Bush economy, it comes up short. Today, I want to compare Bush’s job creation record with other economic recoveries. As usual, Bush comes up way short.

The national Bureau of Economic Research has identified 8 recessions since May 1954. For comparison purposed, I only used 5 of these periods because they are longer than the current expansion. Next, I used the total nonfarm employment numbers from the Bureau of Labor Statistics (BLS). I measured the jobs created from the trough (lowest point) to the next identified highest economic point. (The NBER states a “peak marks the end of an expansion and the beginning of a recession.”) I compared the total number jobs created for the entire expansion as well as the total number of jobs created 49 months into the expansion (According to the NBER, the lowest point of the last trough was in November 2001, making December 2005 the 49th month of this expansion). Here’s how the numbers (in millions) compare.

The expansion of 2/61 – 12/69 created 17,684 total jobs and 6,244 at 49 months.

The expansion of 3/75 – 7/80 created 13,183 total jobs and 12,831 at 49 months.

The expansion of 11/82 – 7/90 created 21,003 total jobs and 11,510 at 49 months.

The expansion of 3/91 – 3/01 created 23,969 total jobs and 8,266 at 49 months.

The current expansion which started in November 2001 has created a total of 3,410 jobs.

In other words, at 49 months into an expansion, Bush’s job creation record is last. While we don’t know when this expansion will end, the Bush economy would have to triple the total number of jobs created in order to get to 4th place on this list.

What’s going on here? The basic problem is some areas of the economy are creating jobs. The BLS tracks 13 different job sectors. 7 (a little over half) have created jobs since November 2001 – natural resources/mining (37,000), construction (539,000), financial (550,000), professional services (238,000), education/health (2.1 million), leisure/hospitality (803,000) and governmental employees (1 million). Of all the jobs created three areas – government, education/health account for 57% of job growth. Of the jobs created outside of education, health and governmental employees (2,167,000), construction, professional services and financial services account for about 60% of the jobs created. Real estate is obviously related to all of these areas. Construction is obviously related to real estate, as are financial services (mortgage lending etc…) and professional services (real estate agents, appraisers etc…) So, real estate, governmental employees and health/education jobs are doing just fine.

6 areas – a little under half of the sectors the BLS tracks – have had a net loss in number of jobs: manufacturing (-2,800,000), information (-565,000), trade/transport/utilities (-353), whole sales trade (-107), retail (-157), and transportation/warehousing (67,000). Manufacturing and information are obviously the two biggest areas of job losses. Some of the information service jobs are the result of natural attrition from Y2K. However, I somehow doubt that is the only reason for the losses. While there is no information regarding outsourcing losses (because the government does not keep any statistics on the subject), I fell safe in assuming outsourcing is a big factor involved in the losses.

In summation, sum people are doing well. They can find jobs and are probably financially somewhat secure. However, others have seen their jobs literally disappear overnight and are hurting to find new jobs that pay commensurate levels. These people are hurting from the current “expansion”. Of course, Bush and the RWNM has forgotten about them.

[quantim]

I wanna see the Kitties!!!!

  Go get that invader!

[Lady Heron]

IBTZ

[tx_eggman]

What qualifies one to be zotted

bullshiite statistics from a first time troll usually gets the job done ..

[facedown]

...sum people are doing well.

Sheesh.

[rlmorel]

Easy...all you have to do is go to the Senate Men's Room...:)

[finnman69]

I would think that a FAR better measure is the unemployment level.

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Data extracted on: January 3, 2006 (12:14:52 PM)

Labor Force Statistics from the Current Population Survey

Series Id:           LNS14000000 Seasonal Adjusted Series title:        (Seas) Unemployment Rate Labor force status:  Unemployment rate Type of data:        Percent Age:                 16 years and over
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Annual
1948	3.4	3.8	4.0	3.9	3.5	3.6	3.6	3.9	3.8	3.7	3.8	4.0
1949	4.3	4.7	5.0	5.3	6.1	6.2	6.7	6.8	6.6	7.9	6.4	6.6
1950	6.5	6.4	6.3	5.8	5.5	5.4	5.0	4.5	4.4	4.2	4.2	4.3
1951	3.7	3.4	3.4	3.1	3.0	3.2	3.1	3.1	3.3	3.5	3.5	3.1
1952	3.2	3.1	2.9	2.9	3.0	3.0	3.2	3.4	3.1	3.0	2.8	2.7
1953	2.9	2.6	2.6	2.7	2.5	2.5	2.6	2.7	2.9	3.1	3.5	4.5
1954	4.9	5.2	5.7	5.9	5.9	5.6	5.8	6.0	6.1	5.7	5.3	5.0
1955	4.9	4.7	4.6	4.7	4.3	4.2	4.0	4.2	4.1	4.3	4.2	4.2
1956	4.0	3.9	4.2	4.0	4.3	4.3	4.4	4.1	3.9	3.9	4.3	4.2
1957	4.2	3.9	3.7	3.9	4.1	4.3	4.2	4.1	4.4	4.5	5.1	5.2
1958	5.8	6.4	6.7	7.4	7.4	7.3	7.5	7.4	7.1	6.7	6.2	6.2
1959	6.0	5.9	5.6	5.2	5.1	5.0	5.1	5.2	5.5	5.7	5.8	5.3
1960	5.2	4.8	5.4	5.2	5.1	5.4	5.5	5.6	5.5	6.1	6.1	6.6
1961	6.6	6.9	6.9	7.0	7.1	6.9	7.0	6.6	6.7	6.5	6.1	6.0
1962	5.8	5.5	5.6	5.6	5.5	5.5	5.4	5.7	5.6	5.4	5.7	5.5
1963	5.7	5.9	5.7	5.7	5.9	5.6	5.6	5.4	5.5	5.5	5.7	5.5
1964	5.6	5.4	5.4	5.3	5.1	5.2	4.9	5.0	5.1	5.1	4.8	5.0
1965	4.9	5.1	4.7	4.8	4.6	4.6	4.4	4.4	4.3	4.2	4.1	4.0
1966	4.0	3.8	3.8	3.8	3.9	3.8	3.8	3.8	3.7	3.7	3.6	3.8
1967	3.9	3.8	3.8	3.8	3.8	3.9	3.8	3.8	3.8	4.0	3.9	3.8
1968	3.7	3.8	3.7	3.5	3.5	3.7	3.7	3.5	3.4	3.4	3.4	3.4
1969	3.4	3.4	3.4	3.4	3.4	3.5	3.5	3.5	3.7	3.7	3.5	3.5
1970	3.9	4.2	4.4	4.6	4.8	4.9	5.0	5.1	5.4	5.5	5.9	6.1
1971	5.9	5.9	6.0	5.9	5.9	5.9	6.0	6.1	6.0	5.8	6.0	6.0
1972	5.8	5.7	5.8	5.7	5.7	5.7	5.6	5.6	5.5	5.6	5.3	5.2
1973	4.9	5.0	4.9	5.0	4.9	4.9	4.8	4.8	4.8	4.6	4.8	4.9
1974	5.1	5.2	5.1	5.1	5.1	5.4	5.5	5.5	5.9	6.0	6.6	7.2
1975	8.1	8.1	8.6	8.8	9.0	8.8	8.6	8.4	8.4	8.4	8.3	8.2
1976	7.9	7.7	7.6	7.7	7.4	7.6	7.8	7.8	7.6	7.7	7.8	7.8
1977	7.5	7.6	7.4	7.2	7.0	7.2	6.9	7.0	6.8	6.8	6.8	6.4
1978	6.4	6.3	6.3	6.1	6.0	5.9	6.2	5.9	6.0	5.8	5.9	6.0
1979	5.9	5.9	5.8	5.8	5.6	5.7	5.7	6.0	5.9	6.0	5.9	6.0
1980	6.3	6.3	6.3	6.9	7.5	7.6	7.8	7.7	7.5	7.5	7.5	7.2
1981	7.5	7.4	7.4	7.2	7.5	7.5	7.2	7.4	7.6	7.9	8.3	8.5
1982	8.6	8.9	9.0	9.3	9.4	9.6	9.8	9.8	10.1	10.4	10.8	10.8
1983	10.4	10.4	10.3	10.2	10.1	10.1	9.4	9.5	9.2	8.8	8.5	8.3
1984	8.0	7.8	7.8	7.7	7.4	7.2	7.5	7.5	7.3	7.4	7.2	7.3
1985	7.3	7.2	7.2	7.3	7.2	7.4	7.4	7.1	7.1	7.1	7.0	7.0
1986	6.7	7.2	7.2	7.1	7.2	7.2	7.0	6.9	7.0	7.0	6.9	6.6
1987	6.6	6.6	6.6	6.3	6.3	6.2	6.1	6.0	5.9	6.0	5.8	5.7
1988	5.7	5.7	5.7	5.4	5.6	5.4	5.4	5.6	5.4	5.4	5.3	5.3
1989	5.4	5.2	5.0	5.2	5.2	5.3	5.2	5.2	5.3	5.3	5.4	5.4
1990	5.4	5.3	5.2	5.4	5.4	5.2	5.5	5.7	5.9	5.9	6.2	6.3
1991	6.4	6.6	6.8	6.7	6.9	6.9	6.8	6.9	6.9	7.0	7.0	7.3
1992	7.3	7.4	7.4	7.4	7.6	7.8	7.7	7.6	7.6	7.3	7.4	7.4
1993	7.3	7.1	7.0	7.1	7.1	7.0	6.9	6.8	6.7	6.8	6.6	6.5
1994	6.6	6.6	6.5	6.4	6.1	6.1	6.1	6.0	5.9	5.8	5.6	5.5
1995	5.6	5.4	5.4	5.8	5.6	5.6	5.7	5.7	5.6	5.5	5.6	5.6
1996	5.6	5.5	5.5	5.6	5.6	5.3	5.5	5.1	5.2	5.2	5.4	5.4
1997	5.3	5.2	5.2	5.1	4.9	5.0	4.9	4.8	4.9	4.7	4.6	4.7
1998	4.6	4.6	4.7	4.3	4.4	4.5	4.5	4.5	4.6	4.5	4.4	4.4
1999	4.3	4.4	4.2	4.3	4.2	4.3	4.3	4.2	4.2	4.1	4.1	4.0
2000	4.0	4.1	4.0	3.8	4.0	4.0	4.0	4.1	3.9	3.9	3.9	3.9
2001	4.2	4.2	4.3	4.4	4.3	4.5	4.6	4.9	5.0	5.3	5.6	5.7
2002	5.7	5.7	5.7	5.9	5.8	5.8	5.8	5.7	5.7	5.7	5.9	6.0
2003	5.8	5.9	5.8	6.0	6.1	6.3	6.2	6.1	6.1	6.0	5.9	5.7
2004	5.7	5.6	5.7	5.5	5.6	5.6	5.5	5.4	5.4	5.5	5.4	5.4
2005	5.2	5.4	5.2	5.2	5.1	5.0	5.0	4.9	5.1	5.0	5.0

[NonLinear]

Currently more Americans are employed then ever before in US history and are making higher wages then Americans ever have before.

OMG!! I just saw another alarming statistic! More Americans are DEAD now than ever before in the ENTIRE HISTORY of the nation!!!

Even worse, in my city, they seem to be DYING IN ALPHEBETICAL ORDER! Seriesly! I didn't believe it either, but I just checked the obits and it's TRUE!!

This is HUGH!

(c8

[dighton]

In summation, sum people are doing well.

Dim sum.

[Paleo Conservative]

In summation, sum people are doing well.

This troll can't even spell correctly. The word "sum" is used instead of "some".

[Only1choice____Freedom]

If you would have used your salvage corvettes, you could have captured it instead of blowing it to bits.



I love that game!!

[Lancey Howard]

See post #45.

The Democrat scumbag who wrote the piece you posted uses essentially meaningless numbers from the Bureau of Labor Statistics. Unemployment is at all-time low levels and the economy is roaring (see numerous other reputable statistical measures). All you need is your own two eyes to refute the garbage you posted.

"Only a fool argues with a fool." - - Chinese proverb.

[Froufrou]

"This is HUGH" - Did you mean "hugE?"

Who is Hugh? Is he the one killing people alphabetically in your city? Why would he be doing that, do you think? :o/

[Paul_Denton]

LOL! Thats true. Its one of the best games of all time! :)

[LS]

Great point about the dates. In the 1990s they used to say that the middle class was doing worse during the Reagan years, but it depends on if you measure peak-to-trough (the economy goes up and down) or peak-to-peak/trough-to-trough. If you do that, the middle class has consistently moved up.

[pfony1]

Your "author" has distorted his "analysis" by choosing to start his "statistics" from a date well before our minimum employment was reached.

If employment growth is measured from the month of lowest employment (May 2003), then GWB has added 4.5MM jobs, while only 3.7MM jobs were added in recovery period of 4/91 through 10/93 -- a comparable 30 month period.

Liberals lie. QED

[litehaus]

intruder alert
Since Jan 3, 2006......................Como se dice? Velkommen?

[xmission]

[finnman69]

The number of Americans who want a job but are unemployed...stable at around 4.5 million since Bush took office.

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Data extracted on: January 3, 2006 (12:31:05 PM)

Labor Force Statistics from the Current Population Survey

Series Id:                       LNU05026639 Not Seasonally Adjusted Series title:                    (Unadj) Not in Labor Force, Want a Job Now Labor force status:              Not in labor force Type of data:                    Number in thousands Age:                             16 years and over Job desires/not in labor force:  Want a job now
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Annual
1994	6998	6410	6257	6574	7297	6498	6026	6153	5862	5510	5411	5604	6218
1995	5999	5852	5715	5433	6533	6005	5292	5718	5514	5370	5140	5466	5670
1996	5751	5836	5400	5378	6215	6043	5196	5666	5219	5080	4878	4746	5451
1997	5164	5267	4949	4836	5901	5325	4777	5030	4705	4485	4469	4390	4941
1998	5026	4912	4756	4901	5313	5187	4763	5180	4753	4550	4212	4187	4812
1999	4800	4703	4471	4797	5267	5204	4490	4742	4196	4020	4077	4045	4568
2000	4401	4476	4510	4437	5004	4670	4446	4479	4218	4096	4009	4208	4413
2001	4517	4543	4144	4491	5180	5011	4542	5107	4396	4386	4375	4388	4590
2002	4938	4491	4426	4554	5533	5128	4921	4811	4500	4192	4407	4227	4677
2003	4779	4495	4763	4373	5482	5085	4955	5030	4637	4561	4201	4355	4726
2004	4913	4622	4667	4598	5371	5000	4767	5145	4720	5065	4755	4607	4852
2005	5136	4844	4858	5022	5386	5645	5081	5017	4757	4796	4466

[jec41]

I've been posting this at various places looking for someone who can refute it. As a staunch Bush supporter, I am disappointed no one has done so yet.

What was the employment statistics for each period?
What was the average household income for each period?
What is the average income for each period.
Less than 5% unemployment would suggest that we have as many jobs as needed since 5% are not interested in the jobs available. How many jobs were created and filled by illegals? 50% of the worlds workers make less than $2.00 a day while you bitch about a economy who's workers make a average of $37,000,00 a year with 5% unemployment and that 5% will not work for less. You're sick.

[<1/1,000,000th%]

Here’s how the numbers (in millions) compare.

The expansion of 2/61 – 12/69 created 17,684 total jobs and 6,244 at 49 months.

A "staunch Bush supporter" might have asked how a country of 150 million people could create almost 18 billion jobs.