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.

[BreitbartSentMe]

The "jargon" that you refer to are called "numbers". There are basically nine of them (0,1,2,3,4,5,6,7,8,9) that are used in a base 10 system.

It may be seem a bit complicated for a DU'er, but the system is really very simple. It used to be widely taught (even in public schools) but appears to have been pushed out of the curricula to make room to study gender and ethnic studies, the history of American Imperial Oppression, and Palestinian-American literature.

Already posted HERE

8^)

[airborne]

Check out his link. 8^)

It be trollish!

[Admin Moderator]

Well, it's over. He's officially gone.

[rightinthemiddle]

Intruder Alert is dead, Johnnie. The jooish Mods pulled the plug.

[BreitbartSentMe]

So, who's got a copy of the graphic showing the launch codes for the Viking Kitties. I haven't seen it posted in a while, but I remember something about 'jerico' and 'cottonmouth'

Maybe that's why the ZOT hasn't happened yet...

[Darksheare]

Ouch.

[rightinthemiddle]

How about MurryMom? Seven years of drive-bys...

[Darksheare]

"conditions are ripe for heavy thunderstorm activity."


Is it a good thing or a bad thing to be wire wrapping lightning rods to trolls?

[Paul_Denton]

I never seen that lol. My launch code is ZULUOSCARTANGO. Jerhico makes a good one though.

[Darksheare]

She LIKES being spanked.

[Paul_Denton]

Confirm. Texted the troll's atomic nucleii at 2 parts per trillion. It was a direct hit. The XW-96 is a 30 megaton precision tactical warhead *chuckle*

[Paul_Denton]

LOL who is MurryMom. If its a troll I got a second warhead...

[BreitbartSentMe]

Oops, spoke too soon. He's dead, Jim! And I was just getting ready to show him why unemployment will never drop below 5%

[Radix]

You know, every once in a while I'll peruse these threads just for the graphics.

That one is a classic.

[Darksheare]

Ouch.

[LS]

Yes. Good catch. I always forget these terms, "household" vs. "jobs."

[Darksheare]

As Right can tell you, MurryMom is somewhat of a token liberal on FR.
She's sorta the forum pet troll.
She was screaming oncec about how her teachers pay was being eaten up by taxes, so I asked her about teh teachers union dues and Clinton hiked taxes.


She came back with some mental ooze about how if it 'sticks it to Bush' she's willing to do it.
*chuckle*

[rightinthemiddle]

Check out her "in forum" posts...

[Paul_Denton]

Yep. And its build for surgical strikes. shotgun marksmanship *hehe*

[Dog Gone]

I get the feeling that MurryMom is our designated pinata. One wonders whether she's full of candy or whether it's something else entirely, but she's easy and fun to hit, over and over and over again.