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Economy

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progree

(11,161 posts)
Sat Jul 6, 2019, 04:29 PM Jul 2019

In its 29 months, the Trump economy has created 810,000 FEWER jobs than Obama's last 29 months [View all]

Last edited Thu Jul 25, 2019, 06:19 PM - Edit history (4)

and the pace of job creation has markedly slowed in 2019 ...

Summary: Average monthly net new jobs created
221,000    Obama's last 29 months
194,000    Trump's 29 months (February 2017 through June 2019)
172,000    2019 so far (January through June)
144,000    February through June 2019

From G_j: https://www.democraticunderground.com/100212250349

which links to: https://www.forbes.com/sites/chuckjones/2019/07/05/trump-is-falling-almost-1-million-jobs-short-vs-obama

Comparing Trump's 29 months with Obama's last 29 months

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.

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

Edited to add:

And yes yes, the unemployment rate is at about 50 year lows, but note that the prime age (25-54) labor force participation rate is below the pre-Great Recession average, going back to about 1987.
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