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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsJoe: Donald Trump is on track to become the worst jobs president in modern American history.
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Joe Biden
@JoeBiden
Donald Trump is on track to become the worst jobs president in modern American history.
progree
(10,901 posts)THE BELOW WAS CREATED IN EARLY FEBRUARY AT NEAR THE PEAK OF THE PRE-COVID ECONOMY. Even so, it shows that Trump was a less-than-median job creator even at his high point. Now, according to the latest jobs report that came out October 2, Trump has lost 3.907 Million jobs since January 2017 when Obama left office, whch comes to 89,000 jobs lost per month during these 44 months. This of course, puts Trump last in the table as the only post WW-II loser
(Sorted from best to worst by average annual percentage increase in jobs. Republicans in red, Democrats in blue.)
Notice that -- with the tiny exception (0.2% difference) of Nixon to Kennedy -- the worst Democrat has a better record than the best Republican -- that is, until Obama, who inherited an economy that was losing several hundred thousand jobs a month And actually, Kennedy did not have a chance to complete his term -- had he done so, and had he had the same job creation numbers in December 1963 through January 1965 as Johnson had (a 3.48%/year annualized rate of increase), he would have easily topped Nixon.
Post-WWII Presidents ranked by Average Annual Percentage Increase In Jobs (the last column):
. . (updated 2/7/20 after new jobs report released - it has revisions going back decades.)
THE ABOVE WAS CREATED IN EARLY FEBRUARY AT NEAR THE PEAK OF THE PRE-COVID ECONOMY. Even so, it shows that Trump was a less-than-median job creator even at his high point. Now, according to the latest jobs report that came out October 2, Trump has lost 3.907 Million jobs since January 2017 when Obama left office, whch comes to 89,000 jobs lost per month during these 44 months. This of course, puts Trump last in the table as the only post WW-II loser
(Actually, the true jobs peak of the Trump economy was in February 2020 -- he gained another 251,000 jobs in February, which would make his 37 month record at the end of February 184,054 jobs/month, which comes to 1.52% average annual increase in jobs -- only trivially better than the 182,194 and 1.50% numbers shown in the table (which are at the end of January), and certainly doesn't affect his ranking from what is shown in the table).
Remember, Obama inherited the deepest recession since World War II, which lost 4.2 million jobs in the last 10 months of his predecessor, and in the last 3 months of his predecessor was losing 753,000 jobs a month. With that momentum, job losses continued for the first 13 months of the Obama presidency -- through February 2010 -- totalling 4.3 million jobs lost during those 13 months.
Anyway, despite the 4.3 million jobs lost in his first 13 months because of the Bush crash, Obama still beats 4 of the last 7 post-WWII Republican presidents (the count of 7 post-WWII Republican presidents includes Trump). Of these Republican presidents, only Nixon, Reagan, and Ford had better records than Obama, and Ford only edged him out by 0.01 percentage points.
In the above table, the average annual % increase in jobs (the last column) is a much fairer way to compare presidents than just the raw job creation figures in thousands because the latter is unfair to the earlier presidents who were working with much smaller labor forces to begin with. For example the number of job holders at the beginning of Truman's administration was only 38% as many as at the beginning of Clinton's administration, and 31% as many as at the beginning of G.W. Bush's administration. So Truman's pathetic-looking 93,570 jobs/month creation record turns out to be even better than Clinton's 238,521 jobs/month record when adjusted for the size of the labor force at the beginning of their terms.
In raw thousands of jobs created per year, both Reagan and Nixon beat Truman. But when adjusted for the size of the labor force -- again, by looking at average annual percentage increases in jobs -- Truman beats them both.
Official sources of information for the above:
# Payroll Jobs: http://data.bls.gov/timeseries/CES0000000001
# Monthly change of above: http://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth
# . . Hint: to see both of the above two together on the same page, go to http://data.bls.gov/timeseries/CES0000000001 and click on the "More Formatting Options" link in the upper right and check the "Original Data Value" and the "1-Month Net Change" checkboxes and click the "Retrieve Data" button halfway down the page on the left
The United States Unemployment Rate. Every Time The Democrats Fix It, The Republicans F*CK It Up (1960-2016)
That is some nice work. Strait forward easily discernable to bad the GOP cannot read anymore
progree
(10,901 posts)malaise
(268,903 posts)Thanks
progree
(10,901 posts)Harker
(14,012 posts)jcgoldie
(11,629 posts)"on track"?
Pretty sure Trump reached his destination couple years ago... now with covid response he's just running laps around the other contenders...
Johnny2X2X
(19,030 posts)Growth is worst since the Great Depression for a term of any President.
What people miss though is that over the last 100 years, the average return on stocks has been 7.5%. If the markets remain flat the rest of the year which is a sunny view, he'll hit the nail on the head of 7.5% growth annually for 4 years.
Trump gets a solid C on investment returns.
bucolic_frolic
(43,123 posts)What do you expect?
nuxvomica
(12,420 posts)So that 10 million figure is even more remarkable. And the country's total population was two-thirds what it is today.
Rhiannon12866
(205,161 posts)I have thought so many times that we could use the help of the Carter Center in this country now.
progree
(10,901 posts)in my presidential jobs table in #1 -- which ranks the presidents by the average annual percentage increase in jobs -- which fixes both problems you mention: different labor force sizes at the beginning of each president's terms, and is unaffected by number of terms.
Carter #2 only after LBJ.
marmar
(77,072 posts)onecent
(6,096 posts)NNadir
(33,512 posts)Two out of three of the 21st century's Presidents rank near the bottom for all Presidents. Trump has the dubious distinction of making George W. Bush look "not that bad," and that's, um, bad.
sandensea
(21,621 posts)They all did, I think - even Harding and Dubya.
Orange Amin has never had the least notion of taking anything seriously - except fraud and tax evasion.
Jspur
(578 posts)a candidate for worst president of all time. Republican economic ideas are outdated and don't work so you can count on big time failure every time there is a republican president.
lark
(23,091 posts)RW fucksticks need to see actual facts for a change. Run this on Faux Snooze!
warmfeet
(3,321 posts)Apparently, this is how one "drains the swamp."
This leads, inevitably, to draining the electoral votes. GOTV.
Throw this bullshit asshole tRump into prison for life. His supporters, they are dead to me.
soothsayer
(38,601 posts)Blue Owl
(50,347 posts)n/t