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Bush's Job Growth WORST in 50 Years (Roll out the red carpet for this “staunch Bush supporter.”)
bopnews ^
| Hale Stewart
Posted on 01/03/2006 8:29:33 AM PST by intruder alert
Bushs giant Right Wing Noise Machine (RWNM) loves to preach about the Bush economic miracle. In fact, the RWNMs current thinking is Bush doesnt 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: its a lie. Any way you look at the Bush economy, it comes up short. Today, I want to compare Bushs 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). Heres 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, Bushs job creation record is last. While we dont 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.
Whats 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.
TOPICS: Business/Economy
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To: dljordan
Bush gets plenty of criticism here.
To: CharlesWayneCT
Good points. I'll file those away with others on this thread for later use. FR is like a giant distribution point for arguments that can be used against the libs on other forums.
To: intruder alert
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.Nothing new about this. Any time there is a change in the economy (for example, when automation first came to be), a bunch of people lose jobs until they retool their skill sets.
As to the figures sited in the article, I don't believe them, but I'm not interested enough to go do any research. I'll just read the thread and see if someone else has. LOL
203
posted on
01/03/2006 10:24:24 AM PST
by
MEGoody
(Ye shall know the truth, and the truth shall make you free.)
To: intruder alert
I smell a 'Rat!
204
posted on
01/03/2006 10:24:56 AM PST
by
airborne
(If being a Christian was a crime, would there be enough evidence to convict you?)
To: Mikey_1962
The recovery started 9/2003 not 11/2001; Exactly. He cherry picked the data. Starting the 'recovery' right after 9-11 is a joke.
To: intruder alert
I have told you time and time again, you have to STOP drinking the bong-water.
206
posted on
01/03/2006 10:26:22 AM PST
by
roaddog727
(P=3/8 A. or, P=plenty...............)
To: Admin Moderator
Do y'all want to play with the troll some more, or is it time for you know what?
The Kitties say ...
BURN HIM!
207
posted on
01/03/2006 10:26:38 AM PST
by
reagan_fanatic
(Darwinism is a belief in the meaninglessness of existence - R. Kirk)
To: darkangel82; Darksheare
Thanks :) Put on goggles and prepare for nuke flash.
208
posted on
01/03/2006 10:26:54 AM PST
by
Paul_Denton
(The U.S. should adopt the policy of Oom Shmoom: Israeli policy where no one gives a sh*t about U.N.)
To: intruder alert; LS
Your answer is on post # 45.
Care to respond, Mr. Staunch Bush Supporter?
209
posted on
01/03/2006 10:30:36 AM PST
by
airborne
(If being a Christian was a crime, would there be enough evidence to convict you?)
To: intruder alert
To: Admin Moderator
Firing solution has been uploaded and arming codes for the nukes has been released. Goggles and flash glasses are on here. Recommend use of LX-7 Fission Primary and Helium 3 Secondary with Uranium 238 outter layer installed to increase yield.
211
posted on
01/03/2006 10:31:06 AM PST
by
Paul_Denton
(The U.S. should adopt the policy of Oom Shmoom: Israeli policy where no one gives a sh*t about U.N.)
To: darkwing104
Thanks for the ping!
First IB4TZ this year!
To: Paul_Denton
I also forgot to mention a layer of Lithium 7 isotope just below the U238 layer. Predicted yield: 30 Megatons.
213
posted on
01/03/2006 10:33:32 AM PST
by
Paul_Denton
(The U.S. should adopt the policy of Oom Shmoom: Israeli policy where no one gives a sh*t about U.N.)
To: Paul_Denton
214
posted on
01/03/2006 10:35:46 AM PST
by
A.Hun
(Democrats suck worse than ice storms.)
To: MNJohnnie
WHOA!! I am totally impressed at your command of the English language. A DUmmie could never do that. They would just shower you with D***s and F***s and spittle.
215
posted on
01/03/2006 10:35:52 AM PST
by
chesley
(Liberals...what's not to loathe?)
To: intruder alert; LS; Regicide; Alberta's Child; mnehrling; finnman69
Respond to post # 45 and # 67 and # 80 and # 86 and # 91 for starters!.
They were legitimate responses, so put up or shut up!
216
posted on
01/03/2006 10:37:56 AM PST
by
airborne
(If being a Christian was a crime, would there be enough evidence to convict you?)
To: dljordan
You do NOT criticize the president here. This is not allowed.
You obviously have not spent any time here. Go to an immigration or a spending thread. Then go over to Democrat Underground our Daily Kos and stand UP for the President and see how long it is before you are banned. Sorry when you hysteric Leftist actually reach the SAME level of toleration that is practiced on Free Republic on YOUR sites, we will take you seriously. Until they spare us the hysteric posting hypocrisies about who allows open debate.
217
posted on
01/03/2006 10:40:46 AM PST
by
MNJohnnie
(We do not create terrorism by fighting the terrorists. We invite terrorism by ignoring them.--GWBush)
To: MEGoody
. . . but I'm not interested enough to go do any research. I'll just read the thread and see if someone else has. Call. I raise the following from the folks at Heritage. Under normal circumstances I'd bother with it, but today I'd rather drink.
To: All
Um...am I the only one here who thinks the 'zotted' person in question is actually looking for answers? I think this isn't a troll here.
219
posted on
01/03/2006 10:43:04 AM PST
by
Ultra Sonic 007
(The opposite of Progress is Congress)
To: darkangel82
"Bush gets plenty of criticism here."
I know, I was being facetious.
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