January jobs numbers show President Donald Trump is inheriting a strong labor market
THURSDAY, FEB 2, 2017 04:58 AM EST
Despite what Trump says, Obama’s job-creation track record is statistically impressive although problems persist
ANGELO YOUNG
While the Obamas continue their break from politics by chilling out in the British Virgin Islands, the nation will soon have the final tally for former President Barack Obama’s eight-year job-creation track record when January’s official monthly employment report comes out Friday.
Including estimates for January and pending some minor adjustments to the numbers in the coming months, the country added 11.4 million jobs, or 119,000 a month, under Obama’s eight years in office, according to the U.S. Bureau of Labor Statistics. That’s the highest rate since President Bill Clinton’s average monthly net gain of 239,000 and way, way ahead of Republican President George W. Bush’s measly average of 14,000 jobs a month.
The average monthly hiring pace since 2014 has been better, too, with statistics showing approximately 219,000 new jobs monthly. That figure is well above what’s necessary to meet the demand of new Americans entering the job market.
These numbers show that, despite President Donald Trump’s gloomy rhetoric, the nation’s labor market as a whole is better off than it has been in nearly a decade. The current official unemployment rate is below the 5 percent — labor economists consider this to be the point where employers have a harder time recruiting and retaining workers as more opportunities for better-paying jobs increase.
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http://www.salon.com/2017/02/02/january-jobs-numbers-show-president-donald-trump-is-inheriting-a-strong-labor-market/