Thursday, August 23, 2012

No, Obama Hasn't Created More Jobs Than Reagan

Once again, math is hard if you're an Obamaton. Call it remedial math for Stephanie Cutter.
Just how do the Obama and Reagan recoveries stack up in terms of jobs?

• From the end of the recession in June 2009 through July 2012 — the first 37 months of the Obama recovery — the U.S. economy has generated 2.7 million net new jobs. From the jobs low point in February 2010, the U.S. economy has generated 4 million net new jobs.

From the end of the 1981-82 recession through the end of of 1985 —  the first 37 months of the Reagan recovery — the U.S.created 9.8 million net new jobs. And if you adjust for the larger U.S. population today, the comparable figure is more than 12 million jobs.

Score one for Reagan.

• Another of way of assessing the U.S. labor market is by looking at the employment-population ratio, a simple measure that looks how many Americans are working as a share of the population (or what the Labor Department calls the civilian, non-institutional population.)

During the Reagan Recovery, that ratio increased. During the Obama Recovery, that ratio has been dead in the water.


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