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G_j

(40,400 posts)
Sat Jul 6, 2019, 11:35 AM Jul 2019

Trump Is Falling Almost 1 Million Jobs Short Vs. Obama

https://www.forbes.com/sites/chuckjones/2019/07/05/trump-is-falling-almost-1-million-jobs-short-vs-obama/?utm_source=FACEBOOK&utm_medium=social&utm_term=Valerie/#76616c657269

The U.S. Bureau of Labor announced that the economy added 224,000 jobs in June vs. expectations of 160,000 and May’s revised result of 72,000. The 224,000 is still strong, but there were revisions to April and May that subtracted 11,000 people hired in those months and government employment added 33,000. Overall private payrolls added 191,000 employees.

The stock markets are reacting negatively due to the jobs number being stronger than expected since investors are lowering their expectations that the Fed will cut interest rates by 50 basis points later this month. A 25 basis point downward move is still being priced into the market, but that may wind up being optimistic due to the strong report.

Over 29 months Obama added almost 1 million more jobs than Trump

Trump entered office on January 20, 2017, and starting with February 2017 he has been President for 29 months. Total job growth during that time has been 5.613 million or 194,000 per month with those results being helped by the tax cut.

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Trump Is Falling Almost 1 Million Jobs Short Vs. Obama (Original Post) G_j Jul 2019 OP
REC. Yes, 2019 has been weak so far -- just 172,000 per month average progree Jul 2019 #1
yes G_j Jul 2019 #2
And thanks for the OP -- I wasn't aware of this before progree Jul 2019 #3

progree

(11,180 posts)
1. REC. Yes, 2019 has been weak so far -- just 172,000 per month average
Sat Jul 6, 2019, 12:55 PM
Jul 2019
Working back from January 2017, Obama’s last month in office, there had been 6.423 million jobs added or 221,000 per month. The difference for the 29 months is 810,000 more jobs or 27,000 more per month than Trump.

Note that back in January this year the total difference was only 194,000, which means over the past five months it has increased by 616,000.


Yes, there's been quite a slowdown so far this year (the 6 months January through June), just 172,000 per month average, compared to 223,000 per month average in all of 2018.

For the 5 months February through June of 2019, it's been only 144,000 per month average.

Job numbers:

https://data.bls.gov/timeseries/CES0000000001

Monthly changes: https://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth

progree

(11,180 posts)
3. And thanks for the OP -- I wasn't aware of this before
Sat Jul 6, 2019, 05:07 PM
Jul 2019

I knew there's been a slowdown, e.g. 2019 compared to 2018, but I didn't know about the broader picture.

I've since spread the word -- attaching a comment to the Jobs report in Latest Breaking News (although hardly anyone is reading that thread anymore), and I started a new OP in the Economy Group just now.

https://www.democraticunderground.com/111685907

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