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The Facts Show 2.4 Million Jobs Created Under Bush
NewsMax ^

Posted on 03/06/2004 11:14:49 PM PST by MaineVoter2002

The Facts Show 2.4 Million Jobs Created Under Bush

The media and Democrats keep repeating it over and over: "2.3 million jobs lost" since President Bush took office. His could be the worst job record since before World War II, they claim. One little problem: It's not true.

Not only has there been no net loss of jobs during the Bush administration, there has been a net gain, even with the devastation of 9/11. At least 2.4 million jobs have been created since the president took office, 2 million of those in 2003. The gains more than offset the losses.

While Democrats continue to beat their election-year drums about outsourcing, manufacturing losses, unemployment and slow growth in employment, America's economy has been steadily creating jobs.

At least 366,000 jobs have been created in the last five months, over 100,000 of those in January, White House press secretary Scott McClellan has noted. And though the eight-month recession "officially" ended in November, economic indicators are surprising economists and pointing toward a take-off in the recovery.

The signs:

The 5.6 percent unemployment rate is the lowest in two years and below the average of the 1980s (7.3 percent) and '90s (5.8 percent), and still continues to drop.

The nation's economic output revealed the strongest quarterly growth in 20 years. The data for the fourth quarter of 2003 show that the civilian labor force rose by 333,000, while the number of unemployed in the labor force dropped by 575,000. Even better, the number of so-called discouraged workers declined in December.

Consumer spending grew between 4 percent and 5 percent last year, and real hourly earnings rose 1.5 percent. Real earnings have risen over the last three years.

Exports doubled to 19 percent in the fourth quarter, compared to less than 9 percent in the third.

The number of American workers is at an all-time high of 138.5 million, a level never before attained in U.S. history.

Jobless claims are 10 percent below the average of the last 25 years and still falling. Hiring indices are up, even in manufacturing. Productivity growth is extremely high.

Now the doomsayers are criticizing the validity of the unemployment rate, which at 5.6 percent does not fit their gloomy story. Faulty Counting The problem is the areas of biggest job growth are usually not even being counted at all.

Though 75 percent of jobs are created by small companies, according to the Small Business Administration, this sector's entrepreneurial activity and the jobs it creates are left out by Washington bean counters when calculating official new job numbers. The Bureau of Labor Statistics (BLS) does its Payroll Survey by phoning businesses to crunch the number of jobs that have been gained or lost. This is where Democrats grabbed onto their lifeline, the 2.3 million figure. Look only at the Payroll Survey, and there has been a gain of only 522,000 jobs since Bush took office.

But here's the rub. The Household Survey is used to determine the unemployment rate and accounts for those who are self-employed, and small emerging businesses that might be overlooked by the Payroll Survey. But the number of U.S. firms isn't static, and the "fixed list" used by the BLS for phoning established businesses does not reflect new entrepreneurial activity.

People are called at home and asked if they have jobs, or if they are in the market for a job. In contrast to the Payroll Survey, the Household Survey shows that 2.4 million jobs have been created so far during Bush's time in office. As Economy.com writer Haseeb Ahmed recently wrote, "something is amiss in the [Payroll] survey."

Credit Where Credit Is Due

That's not all. When doomsayers, and media spoiling for a fight in an election year, laughed at Bush's prediction of 2.6 million new jobs this year, not everyone was scoffing.

Ahmed, Federal Reserve Chairman Alan Greenspan and others hardly batted an eye. Greenspan said it was "probably feasible" the economy would reach the Bush administration's forecast of adding 2.6 million jobs this year, provided growth continues and the productivity rate slows to more typically levels.

"I don't think it's 'Fantasyland,'" Greenspan said. "I agree with him," said John Ryding, chief market economist at Bear Stearns. "I think that we will create 2.5 million, possibly more, jobs over the balance of the year."

Ahmed is convinced that "the revision patterns of the early-1990s recovery cycle" will be repeated. A total of 1.4 million job gains were revised upward to 2.9 million in the first 21 months after the end of the last recession, just after Bush Sr. was voted out of office.

http://www.newsmax.com/archives/articles/2004/2/25/171833.shtml

If elected, will John Kerry get credit for the jobs created under the Bush administration?

(Excerpt) Read more at newsmax.com ...


TOPICS: Breaking News; Business/Economy; Front Page News; News/Current Events; Politics/Elections
KEYWORDS: busheconomy; bushrecovery; gop; jobcreation; jobs; liberalmedia; taxcuts
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The Facts Show 2.4 Million Jobs Created Under Bush

The media and Democrats keep repeating it over and over: "2.3 million jobs lost" since President Bush took office. His could be the worst job record since before World War II, they claim. One little problem: It's not true.

Not only has there been no net loss of jobs during the Bush administration, there has been a net gain, even with the devastation of 9/11. At least 2.4 million jobs have been created since the president took office, 2 million of those in 2003. The gains more than offset the losses.

While Democrats continue to beat their election-year drums about outsourcing, manufacturing losses, unemployment and slow growth in employment, America's economy has been steadily creating jobs.

At least 366,000 jobs have been created in the last five months, over 100,000 of those in January, White House press secretary Scott McClellan has noted. And though the eight-month recession "officially" ended in November, economic indicators are surprising economists and pointing toward a take-off in the recovery.

The signs:

The 5.6 percent unemployment rate is the lowest in two years and below the average of the 1980s (7.3 percent) and '90s (5.8 percent), and still continues to drop.

The nation's economic output revealed the strongest quarterly growth in 20 years. The data for the fourth quarter of 2003 show that the civilian labor force rose by 333,000, while the number of unemployed in the labor force dropped by 575,000. Even better, the number of so-called discouraged workers declined in December.

Consumer spending grew between 4 percent and 5 percent last year, and real hourly earnings rose 1.5 percent. Real earnings have risen over the last three years.

Exports doubled to 19 percent in the fourth quarter, compared to less than 9 percent in the third.

The number of American workers is at an all-time high of 138.5 million, a level never before attained in U.S. history.

Jobless claims are 10 percent below the average of the last 25 years and still falling. Hiring indices are up, even in manufacturing. Productivity growth is extremely high.

Now the doomsayers are criticizing the validity of the unemployment rate, which at 5.6 percent does not fit their gloomy story. Faulty Counting The problem is the areas of biggest job growth are usually not even being counted at all.

Though 75 percent of jobs are created by small companies, according to the Small Business Administration, this sector's entrepreneurial activity and the jobs it creates are left out by Washington bean counters when calculating official new job numbers. The Bureau of Labor Statistics (BLS) does its Payroll Survey by phoning businesses to crunch the number of jobs that have been gained or lost. This is where Democrats grabbed onto their lifeline, the 2.3 million figure. Look only at the Payroll Survey, and there has been a gain of only 522,000 jobs since Bush took office.

But here's the rub. The Household Survey is used to determine the unemployment rate and accounts for those who are self-employed, and small emerging businesses that might be overlooked by the Payroll Survey. But the number of U.S. firms isn't static, and the "fixed list" used by the BLS for phoning established businesses does not reflect new entrepreneurial activity.

People are called at home and asked if they have jobs, or if they are in the market for a job. In contrast to the Payroll Survey, the Household Survey shows that 2.4 million jobs have been created so far during Bush's time in office. As Economy.com writer Haseeb Ahmed recently wrote, "something is amiss in the [Payroll] survey."

Credit Where Credit Is Due

That's not all. When doomsayers, and media spoiling for a fight in an election year, laughed at Bush's prediction of 2.6 million new jobs this year, not everyone was scoffing.

Ahmed, Federal Reserve Chairman Alan Greenspan and others hardly batted an eye. Greenspan said it was "probably feasible" the economy would reach the Bush administration's forecast of adding 2.6 million jobs this year, provided growth continues and the productivity rate slows to more typically levels.

"I don't think it's 'Fantasyland,'" Greenspan said. "I agree with him," said John Ryding, chief market economist at Bear Stearns. "I think that we will create 2.5 million, possibly more, jobs over the balance of the year."

Ahmed is convinced that "the revision patterns of the early-1990s recovery cycle" will be repeated. A total of 1.4 million job gains were revised upward to 2.9 million in the first 21 months after the end of the last recession, just after Bush Sr. was voted out of office.

http://www.newsmax.com/archives/articles/2004/2/25/171833.shtml

If elected, will John Kerry get credit for the jobs created under the Bush administration?

1 posted on 03/06/2004 11:14:49 PM PST by MaineVoter2002
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To: All
Sorry about the duplicated post within the thread.

http://jednet207.tripod.com/PoliticalLinks.html
2 posted on 03/06/2004 11:18:45 PM PST by MaineVoter2002
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To: dixiechick2000; onyx; Howlin
Over here ..
3 posted on 03/06/2004 11:28:11 PM PST by Mo1 (Do you want a president who injects poison into his skull for vanity?)
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To: Mo1; Texasforever

You forgot to ping, Tex.
4 posted on 03/06/2004 11:30:32 PM PST by onyx (Kerry' s a Veteran, but so were Lee Harvey Oswald, Jeffrey Dahmer, and Timothy McVeigh)
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To: MaineVoter2002
The gains more than offset the losses.

So the number of people in the US workforce has remained constant for 3 years?

Also this article manages to skate over that a lot of this job creation is in government, not in private industry.
5 posted on 03/06/2004 11:33:06 PM PST by lelio
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To: MaineVoter2002
Bump!
6 posted on 03/06/2004 11:37:02 PM PST by MadMoo
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To: Ragtime Cowgirl; Radix; HiJinx; Spiff; JackelopeBreeder; Da Jerdge; MJY1288; xzins; Calpernia; ...
ping!
7 posted on 03/06/2004 11:37:14 PM PST by SandRat (Duty, Honor, Country. What else needs to be said?)
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Comment #8 Removed by Moderator

To: Mo1; Howlin
All anyone has to do to dispell the democrats charges of 2.3 million jobs lost under President Bush is to look at how many people were working on January 20th, 2001 to how many are working today, you will see that there is almost 3 million more people working today than there was on Jan. 20th, 2001

BTW, This is exactly the formula Bill Clinton used to claim that his administration created 22 million new jobs

9 posted on 03/06/2004 11:38:03 PM PST by MJY1288 (There's no leaders on the path of least resistance, ask John Kerry, he's been paving it for 32 yrs.)
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To: onyx
Yeah damit I want to be pinged.
10 posted on 03/06/2004 11:38:33 PM PST by Texasforever (When democrats attack it is called campaigning)
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To: MaineVoter2002
One talking head earlier this evening stated the current 5.6% unemployment figure is lower than the average unemployment for the full eight years of Clinton's term in office. Now that's a factoid that seldom gets airtime.
11 posted on 03/06/2004 11:39:40 PM PST by DoughtyOne
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To: laylaune
You're a little out of control tonight, aren't you?
12 posted on 03/06/2004 11:40:02 PM PST by Howlin (Charter Member of the Incredible Interlocking Institutional Power!!!!)
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To: JohnnyZ; Conservobabe
FYI.
13 posted on 03/06/2004 11:40:29 PM PST by Howlin (Charter Member of the Incredible Interlocking Institutional Power!!!!)
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To: Mo1; onyx; Howlin
IIRC, Clinton cooked the books on employment. I believe he changed the criteria to be included, so it appeared the employment rate was higher. Maybe that has something to do with some misconceptions, or downright lies by the 'Rats, now.
14 posted on 03/06/2004 11:41:04 PM PST by dixiechick2000 (President Bush is a mensch in cowboy boots.)
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To: lelio
So the number of people in the US workforce has remained constant for 3 years?

It makes perfect sense. The aging population that is retiring. We will continue to see the labor force going down because after the Baby-boomers the next generation is much smaller.

15 posted on 03/06/2004 11:41:34 PM PST by Texasforever (When democrats attack it is called campaigning)
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To: MaineVoter2002
The Facts Show 2.4 Million Jobs Created Under Bush

The downside is that half of those jobs created are for government employees, and the other half for illegal aliens.

16 posted on 03/06/2004 11:42:03 PM PST by SpyGuy
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To: Texasforever
Ping!

;o)
17 posted on 03/06/2004 11:42:04 PM PST by dixiechick2000 (President Bush is a mensch in cowboy boots.)
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To: Texasforever
Yeah damit I want to be pinged.







LOL-LOL-LOL I know. :)
18 posted on 03/06/2004 11:43:05 PM PST by onyx (Kerry' s a Veteran, but so were Lee Harvey Oswald, Jeffrey Dahmer, and Timothy McVeigh)
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To: SpyGuy
The downside is that half of those jobs created are for government employees, and the other half for illegal aliens.

You made the claim now back it up.

19 posted on 03/06/2004 11:43:33 PM PST by Texasforever (When democrats attack it is called campaigning)
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To: dixiechick2000
Dang that felt good.
20 posted on 03/06/2004 11:44:19 PM PST by Texasforever (When democrats attack it is called campaigning)
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To: laylaune
Where are the jobs created, exactly? Could we PLEASE have some accountablity ??? I want NAMES!

LOL-LOL-LOL --- I didn't write the article. I would have insisted on the names.

21 posted on 03/06/2004 11:45:08 PM PST by onyx (Kerry' s a Veteran, but so were Lee Harvey Oswald, Jeffrey Dahmer, and Timothy McVeigh)
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To: Texasforever
Glad to oblige, O profound one. ;o)
22 posted on 03/06/2004 11:46:35 PM PST by dixiechick2000 (President Bush is a mensch in cowboy boots.)
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To: laylaune
The large majority of jobs that are created, comes from the growth and expansion of small business in America, that is the way it has been since the Labor Unions took over the Manufacturing labor force. For the past 35 years we have seen manufacturing in the country go down hill, and the Labor Unions are to blame for it.

The outsourcing scare the democrats are touting now is another non issue. The current predictions say that we will see about 3 million jobs outsourced over the next 15 years, that is a very small fraction of a work force of 150 million now and a predicted work force of 250 million in 15 years

23 posted on 03/06/2004 11:47:10 PM PST by MJY1288 (There's no leaders on the path of least resistance, ask John Kerry, he's been paving it for 32 yrs.)
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To: dixiechick2000; Texasforever

He's another one cut from the same mold as you know who. :)
24 posted on 03/06/2004 11:47:28 PM PST by onyx (Kerry' s a Veteran, but so were Lee Harvey Oswald, Jeffrey Dahmer, and Timothy McVeigh)
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To: Texasforever
This can't be correct. The buchannanites, John Kerry and the news media are say we're loosing jobs and are in a depression.
25 posted on 03/06/2004 11:47:50 PM PST by CWOJackson
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To: dixiechick2000
IIRC, Clinton cooked the books on employment. I believe he changed the criteria to be included, so it appeared the employment rate was higher

I keep remembering those stupid charts he always brought out .. especially the ones towards the end of his Administration regarding the economy.

I remember thinking that he was up to something but I couldn't pin point it .. and I had Mr. Mo1 transfer our 401K funds and other stocks to safe accounts.

Shortly after that the bottom started to fall out of the market

26 posted on 03/06/2004 11:48:29 PM PST by Mo1 (Do you want a president who injects poison into his skull for vanity?)
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To: onyx; Texasforever
Yes, ma'am...figgered it out.

They need us. ;o)
27 posted on 03/06/2004 11:49:09 PM PST by dixiechick2000 (President Bush is a mensch in cowboy boots.)
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To: SpyGuy
The downside is that half of those jobs created are for government employees, and the other half for illegal aliens.

Democrats create government jobs for their union constituencies. Please site the jobs created for illegal aliens?

28 posted on 03/06/2004 11:51:01 PM PST by onyx (Kerry' s a Veteran, but so were Lee Harvey Oswald, Jeffrey Dahmer, and Timothy McVeigh)
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To: SpyGuy
site no, CITE yes.
29 posted on 03/06/2004 11:51:33 PM PST by onyx (Kerry' s a Veteran, but so were Lee Harvey Oswald, Jeffrey Dahmer, and Timothy McVeigh)
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To: CWOJackson
This can't be correct. The buchannanites, John Kerry and the news media are say we're loosing jobs and are in a depression.

They also say that we never landed on the moon.

30 posted on 03/06/2004 11:52:51 PM PST by Texasforever (When democrats attack it is called campaigning)
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To: Mo1
Dang, girl! You were smart!

IIRC, it wasn't until the very end of the 'toon's administration that the change in criteria for determining the unempolyment rate became public. Even then, it wasn't made public enough. Petah didn't have anything to say about it.

I'm very impressed with your deducive skills. ;o)
31 posted on 03/06/2004 11:55:02 PM PST by dixiechick2000 (President Bush is a mensch in cowboy boots.)
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To: MaineVoter2002
But here's the rub. The Household Survey is used to determine the unemployment rate and accounts for those who are self-employed, and small emerging businesses that might be overlooked by the Payroll Survey. But the number of U.S. firms isn't static, and the "fixed list" used by the BLS for phoning established businesses does not reflect new entrepreneurial activity.

The Payroll Survey is biased torwards companies that outsource. The Household survey samples random households.

Now which one is the better sample? Anybody?

32 posted on 03/06/2004 11:55:23 PM PST by FreeReign
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To: onyx
He's another one cut from the same mold as you know who. :)

Hey I may be a bit long in the tooth but I ain't moldy.

33 posted on 03/06/2004 11:55:49 PM PST by Texasforever (When democrats attack it is called campaigning)
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To: Texasforever

I know you're not moldy. You're not even an oldie. You're just right.
34 posted on 03/06/2004 11:58:20 PM PST by onyx (Kerry' s a Veteran, but so were Lee Harvey Oswald, Jeffrey Dahmer, and Timothy McVeigh)
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To: Texasforever
"They also say that we never landed on the moon."

You mean to tell me it wasn't faked on a Hollywood sound stage?

35 posted on 03/06/2004 11:59:08 PM PST by CWOJackson
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To: dixiechick2000
Well I can figure out when they are up to something .. I'm just never sure what it is.

And with all the news we are getting hit with tonight .. somethings up .. what I have no idea but we'll find out soon
36 posted on 03/06/2004 11:59:51 PM PST by Mo1 (Do you want a president who injects poison into his skull for vanity?)
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To: SpyGuy
The downside is that half of those jobs created are for government employees, and the other half for illegal aliens.

I would guess that most illegals are not going to answer the phone and tell the Household Survey that they have a job.

Si?

37 posted on 03/07/2004 12:01:30 AM PST by FreeReign
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To: onyx
LOL I am just in a onrey mood tonight.
38 posted on 03/07/2004 12:02:45 AM PST by Texasforever (When democrats attack it is called campaigning)
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To: Mo1
"Well I can figure out when they are up to something .. I'm just never sure what it is."

You have excellent radar. I don't know what is going on, either. But, you're right...somethings up, and we will find out as soon as someone figures it all out. I can't wait for that!

39 posted on 03/07/2004 12:06:31 AM PST by dixiechick2000 (President Bush is a mensch in cowboy boots.)
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To: MJY1288
The 'Rats won the 1992 presidential election with the Big Lie about the economy. They kept calling it the worst recession in decades, but the reality was that it was a roaring recovery on and long before Election Day. Lying about our economy worked for them before, so we can't be surprised to see them trying it again.
40 posted on 03/07/2004 12:07:06 AM PST by PeoplesRepublicOfWashington
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To: Texasforever; Mo1; dixiechick2000; Howlin
LOL I am just in a onrey mood tonight.

That's when you really shine and get all of us laughing, ain't that right girlfriends?

41 posted on 03/07/2004 12:10:17 AM PST by onyx (Kerry' s a Veteran, but so were Lee Harvey Oswald, Jeffrey Dahmer, and Timothy McVeigh)
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To: CWOJackson
You mean to tell me it wasn't faked on a Hollywood sound stage?

No it was real but the landings were actually done by illegal aliens.

42 posted on 03/07/2004 12:11:03 AM PST by Texasforever (When democrats attack it is called campaigning)
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To: PeoplesRepublicOfWashington
You're correct and they have a big habit of pulling out old plays from their game book
43 posted on 03/07/2004 12:11:48 AM PST by Mo1 (Do you want a president who injects poison into his skull for vanity?)
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To: Texasforever
Cripes...and this was a new keyboard!
44 posted on 03/07/2004 12:11:55 AM PST by CWOJackson
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To: onyx; Texasforever
Let's just say there is a reason why I try and stay on his good side :0)
45 posted on 03/07/2004 12:13:16 AM PST by Mo1 (Do you want a president who injects poison into his skull for vanity?)
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To: Texasforever
LOL!!
46 posted on 03/07/2004 12:14:06 AM PST by Mo1 (Do you want a president who injects poison into his skull for vanity?)
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To: onyx
Pickings are kind of slim tonight. I think they are all in a bunker conference picking out their spring camouflage pattern.
47 posted on 03/07/2004 12:14:51 AM PST by Texasforever (When democrats attack it is called campaigning)
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To: Mo1
Let's just say there is a reason why I try and stay on his good side :0)

Blush

48 posted on 03/07/2004 12:16:47 AM PST by Texasforever (When democrats attack it is called campaigning)
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To: Texasforever
Pickings are kind of slim tonight. I think they are all in a bunker conference picking out their spring camouflage pattern.

LOL. I'll say the pickings are slim. It's early, there's still hope. :)

49 posted on 03/07/2004 12:16:57 AM PST by onyx (Kerry' s a Veteran, but so were Lee Harvey Oswald, Jeffrey Dahmer, and Timothy McVeigh)
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To: Texasforever
There are still some around on the semi-hourly Jorge Bush sold us out to the Mexican threads. How many ways are they to distort this story.
50 posted on 03/07/2004 12:18:43 AM PST by CWOJackson
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