Posted on 04/05/2010 6:53:36 AM PDT by Columbia
Track the national unemployment rate since 1948 -- the first year in which the government provides data that can reliably be compared with the current rate. Numbers are seasonally adjusted. The Bush years don't look so bad after all.
(Excerpt) Read more at online.wsj.com ...
Seems to be a trend with high unemployment under Dems....
Click on “Interactive Graphics” tab.
Clinton was lucky...it was the new techmology which drove the market
Nothing was driving the Bush market...and Congress could have been helpful with drill, baby drill.
Dems are creating government jobs and no more. The census workers are a good example and they're using it as being some great turn around.
also a VERY interesting graphic map of unemployment
http://cohort11.americanobserver.net/latoyaegwuekwe/multimediafinal.html
Pelosi: Where Are the Jobs, Mr. President?
August 1, 2003
Washington, D.C. — House Democratic Leader Nancy Pelosi released the following statement today on the Bureau of Labor Statistics’ announcement that 470,000 people abandoned their job searches in July and that 3.2 million private sector jobs have been lost since President Bush took office:
“The fact is that President Bush’s misguided economic policies have failed to create jobs. Since President Bush took office, the country has lost 3.2 million jobs, the worst record since President Hoover. And today we learned that in July nearly half a million people gave up looking for a job.
“Job losses are taking a real toll on the financial security of American families. While Democrats are fighting for opportunity, jobs, and economic security for working families, Republicans continue to focus on helping those who need help the least.
“According to today’s survey, while the national unemployment rate dropped slightly, it still stands at a near record high. In addition, the unemployment rate for African Americans was still over 11 percent in July, and the unemployment rate for Hispanics was 8.2 percent in July.
“It is time for President Bush and the Republicans to get to work for all Americans, not just the elite few.”
http://www.house.gov/pelosi/press/releases/Aug03/prWherearetheJobs080103.html
(The numbers today make me LONG for 2003, LOL!)
Bush had 9/11, the bursting of the technology bubble, and the Democrat driven program to lend money to people who could not possibly pay it back. I’m not saying he’s brilliant but it’s a wonder to me that we made it this far.
Shortly after we take back Congress in November, the Census workers will no longer be needed, and the unemployment numbers will spike up again, and Obama will say "Look! Employers and the markets have no faith in the Republicans!" and the media will go along with it.
Wow. Great find!
The official unemployment rates are set by Bureau of Labor surveys. The Clinton administration stopped counting inner cities, and thereby fudged the numbers. Then Clinton re-established inner city surveys just before he left office, thereby setting up Bush for failure.
Lies, damn lies, and statistics.
After the tech bubble, we did have an expanding FIRE (Finance, Insurance, and RealEstate) economy, but it went up in smoke. Very little discussion about ‘value creating’ economic drivers.
Good ticker at Karl’s place...
This comment by Bill Black pretty much sums it up:
“There’s going to be so many shoes falling that it’s going to be like Imelda Marcos’ closet during an earthquake.”
Waiting for Godot.
The Bush years don't look so bad after all.
The Bush Bubble was a period of false prosperity that was inflated by unprecedented levels of irresponsible deficit spending. During this period, Bush polidiots overhyped the low-wage, unskilled service sector jobs that were created to displace the better paying Middle Class jobs that were being actively downsized and outsourced offshore.
This was the dismal globalization policy that undermined our domestic economy.
Interesting.
Got a source for us?
CA....
Spot on. I think the macroeconomic trends are much larger and have much longer lead times than the short term political efforts.
It is interesting how rare sub 5% unemployment has been in recent history.
Another fascinating thing is the low unemployment in late 2000. Most businesses knew the wheels had come off of the economy by the fall of 2000. The NASDAQ had peaked in March, and was in steady decline in September. The employment numbers lag the economy on both ends.
The post dot-com crash/September 11th recession looks short and mild. It felt worse, probably because of the shadow 9/11 cast.
The financing bubble really screwed our economy. We created a bizarre environment where people felt entitled to things they could not pay for, at every level, from a lower-middle class worker, to a hedge fund manager, to the federal government. Pointing fingers at one of these while ignoring the others is wrong. We almost killed the golden goose. I have no sympathy for those who voluntarily wrecked their lives by buying more than they could afford. Just as the financial whiz kids who almost destroyed the banks should be considered pariahs, so should the greedy people who took mortgages they could no afford because "they deserved" a new house as big and nice as someone who earned twice as much, and so should the congress and Presidents.
then there's on line banking, shopping, pump your own gas, ....
But there are real jobs....forestry, oil, coal, gas.....Enviro whackos are screwing up the world...
ping
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