George W. Bush: Worst job creating president in 70 years!

Elwood P Dowd

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-13-06 12:08 AM
Original message

George W. Bush: Worst job creating president in 70 years!

Edited on Thu Apr-13-06 12:10 AM by Elwood P Dowd

http://democrats.senate.gov/dpc/dpc-new.cfm?doc_name=sr-109-2-1

Worst private sector job growth since Hoover Administration. A growing economy should be good news for those seeking jobs. But over the course of President Bush’s five years in office, his Administration has the worst private sector job creation record since Herbert Hoover more than 70 years ago. This translates into an average annual job growth rate of 0.2 percent per year in the private sector since 2001. (Joint Economic Committee Democrats, 12/7/05) The manufacturing sector, often the source of jobs with good pay and benefits, has lost almost 3 million jobs since the start of the Bush Administration. This lack of job growth is particularly troubling given that we are so far into the economic recovery. Payroll employment grew by only 108,000 in December 2005; it was not uncommon to see monthly job gains of 300,000 and even 400,000 during economic expansions under previous Administrations. (Economic Policy Institute, The Boom That Wasn’t, 12/19/05)

<more>

http://www.counterpunch.org/roberts02112006.html

Job growth over the last five years is the weakest on record. The US economy came up more than 7 million jobs short of keeping up with population growth. That’s one good reason for controlling immigration. An economy that cannot keep up with population growth should not be boosting population with heavy rates of legal and illegal immigration.

Over the past five years the US economy experienced a net job loss in goods producing activities. The entire job growth was in service-providing activities--primarily credit intermediation, health care and social assistance, waiters, waitresses and bartenders, and state and local government.

US manufacturing lost 2.9 million jobs, almost 17% of the manufacturing work force. The wipeout is across the board. Not a single manufacturing payroll classification created a single new job.

<more>

http://www.aflcio.org/issues/jobseconomy/jobs/jobcrisis.cfm

Jobs Crisis in America

The nation's economy has nearly 79,000 fewer private-sector jobs than when President George W. Bush took office.

<more>

http://uspolitics.about.com/b/a/145081.htm

Private Sector Jobs: Net Four-Year Loss

News reports suggested that January job data spared President Bush from joining Herbert Hoover as the only president to see a net job loss during a four-year term. However, under Bush's watch, private sector jobs dropped 760,000, according to January 2005's anemic job growth projections. Bush's public reputation was spared only because of growth in government sector jobs, a cushy buffer missing during the Hoover days.

In January 2000, when President Bush took office, there were 111,622,000 private sector jobs in the US. Projected numbers for January 2005 are 110,862,000, a net loss of 760,000 private sector jobs. In comparison, in January 1997 there were 101,639,000 private sector jobs -- meaning 9,983,000 were created during President Clinton's second term of office.

As other analysts have pointed out, the recession can no longer be used as the whipping boy for this abysmal economic performance: it's been over for three
years.

<more>

Note: Author of the above mistakenly listed January 2000 instead of January 2001.

The link below shows a graph with every president's job creation record since WWII.

http://www.musicforamerica.org/node/1323

Here is a link with a brief description of how Bush's Dept Of Labor lies about job creation.

http://bigpicture.typepad.com/comments/2004/05/what_are_they_s.html

That estimate comes from the Labor Department's "birth/death model." You can look up these numbers on the Department's Web site.

As staggering as the assumption about new companies was in March, the Labor Department got even more brazen in April. Last Friday, it was disclosed that these imaginary jobs had been increased by 117,000 to 270,000 for the latest month - because, I guess, the stat jockeys got a vision from the gods of spring.

Without those extra 117,000 make-believe jobs, the total growth for April would have been just 171,000 - sub-par for an economy that's supposed to be growing at more than 4 percent a year, but right on the pros' targets.

Take away all 270,000 make-believe jobs and, well, you have the sort of pessimism that the political pollsters are seeing.

<more>

Here is an article from 2003 - The Labor Research Association

http://www.laborresearch.org/story.php?id=327

Bush’s Job-Loss Recovery the Worst on Record Since the Great Depression (October 7, 2003)

By Cynthia Green

With wages stagnant, job creation slow and unemployment swelling, it’s clear that President Bush’s trillion-dollar tax cuts still haven’t produced the kind of economic recovery that will lift all workers and job seekers.

A new report by the Economic Policy Institute shows that the labor market is in worse shape now that when the most recent recession ended, in November 2001.

In "Labor Market Left Behind," senior economist Jared Bernstein and EPI President Lawrence Mishel give Bush and his team the dubious honor of presiding over the lousiest recovery, in terms of employment growth, since the Bureau of Labor Statistics began tracking employment in 1939.

<more>