Bush vs Obama true job record


#1

Obama (Jan 2009 - Aug 2012)
Net Private/Public Jobs Created (in thousands) = 3,765
Number of People that Left the Labor Force (in thousands) = 6,232
Actual Net Jobs (in thousands) = -2,467

Bush (Jan 2001 - Jan 2009)
Net Private/Public Jobs Created (in thousands) = 1,100
Number of People that Left the Labor Force (in thousands) = 2,337
Actual Net Jobs (in thousands) = -1,237

Above I show the true number of jobs created by Obama in almost 3 years, and Bush in 8 years. I did not consider either of them responsible for the recessions they “inherited”, and started numbers for them both at the bottom of the recessions they inherited, when the economy started to recover. I figure if your going to claim the recovery is your doing, then you can claim the job numbers.

The problem with all this talk of “net jobs gained” is that the way the number of net jobs gained is calculated by both sides excludes the number of people that drop out of the labor force. The labor force rate under Bush decreased on average about 0.1%/year and under Obama it has decreased at a rate almost 7 times higher than that of 0.67%/year which is more than 2 million people a year. Our population is currently increasing about 2.2 million people a year so if anything the labor participation rate should be going up.

Anyways when the decrease in labor force is accounted for you can see above that both Bush and Obama had net job losses during their terms so far and Obama has actually had a decrease of twice as many jobs during a period of less than half that of Bush’s.

In conclusion its pretty obvious that Obama is not doing anywhere even close to as well as Bush did in terms of providing an atmosphere for job creation and Bush didn’t even do a very good job himself.

If anyone wishes to check my numbers they are not hard to find, and a simple Google search will provide them. I used the labor participation chart at the site below.
contrarian-investor.com/labor-force-participation-rate.html


#2

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