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Bush's Job Growth WORST in 50 Years (Roll out the red carpet for this “staunch Bush supporter.”)
bopnews ^ | Hale Stewart

Posted on 01/03/2006 8:29:33 AM PST by intruder alert

Bush’s giant Right Wing Noise Machine (RWNM) loves to preach about the Bush economic miracle. In fact, the RWNM’s current thinking is Bush doesn’t spend enough time talking about his economic triumphs. If only he did, then everyone would fall in line and believe in the great Bush economic miracle. There is one problem with this argument: it’s a lie. Any way you look at the Bush economy, it comes up short. Today, I want to compare Bush’s job creation record with other economic recoveries. As usual, Bush comes up way short.

The national Bureau of Economic Research has identified 8 recessions since May 1954. For comparison purposed, I only used 5 of these periods because they are longer than the current expansion. Next, I used the total nonfarm employment numbers from the Bureau of Labor Statistics (BLS). I measured the jobs created from the trough (lowest point) to the next identified highest economic point. (The NBER states a “peak marks the end of an expansion and the beginning of a recession.”) I compared the total number jobs created for the entire expansion as well as the total number of jobs created 49 months into the expansion (According to the NBER, the lowest point of the last trough was in November 2001, making December 2005 the 49th month of this expansion). Here’s how the numbers (in millions) compare.

The expansion of 2/61 – 12/69 created 17,684 total jobs and 6,244 at 49 months.

The expansion of 3/75 – 7/80 created 13,183 total jobs and 12,831 at 49 months.

The expansion of 11/82 – 7/90 created 21,003 total jobs and 11,510 at 49 months.

The expansion of 3/91 – 3/01 created 23,969 total jobs and 8,266 at 49 months.

The current expansion which started in November 2001 has created a total of 3,410 jobs.

In other words, at 49 months into an expansion, Bush’s job creation record is last. While we don’t know when this expansion will end, the Bush economy would have to triple the total number of jobs created in order to get to 4th place on this list.

What’s going on here? The basic problem is some areas of the economy are creating jobs. The BLS tracks 13 different job sectors. 7 (a little over half) have created jobs since November 2001 – natural resources/mining (37,000), construction (539,000), financial (550,000), professional services (238,000), education/health (2.1 million), leisure/hospitality (803,000) and governmental employees (1 million). Of all the jobs created three areas – government, education/health account for 57% of job growth. Of the jobs created outside of education, health and governmental employees (2,167,000), construction, professional services and financial services account for about 60% of the jobs created. Real estate is obviously related to all of these areas. Construction is obviously related to real estate, as are financial services (mortgage lending etc…) and professional services (real estate agents, appraisers etc…) So, real estate, governmental employees and health/education jobs are doing just fine.

6 areas – a little under half of the sectors the BLS tracks – have had a net loss in number of jobs: manufacturing (-2,800,000), information (-565,000), trade/transport/utilities (-353), whole sales trade (-107), retail (-157), and transportation/warehousing (67,000). Manufacturing and information are obviously the two biggest areas of job losses. Some of the information service jobs are the result of natural attrition from Y2K. However, I somehow doubt that is the only reason for the losses. While there is no information regarding outsourcing losses (because the government does not keep any statistics on the subject), I fell safe in assuming outsourcing is a big factor involved in the losses.

In summation, sum people are doing well. They can find jobs and are probably financially somewhat secure. However, others have seen their jobs literally disappear overnight and are hurting to find new jobs that pay commensurate levels. These people are hurting from the current “expansion”. Of course, Bush and the RWNM has forgotten about them.


TOPICS: Business/Economy
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I've been posting this at various places looking for someone who can refute it. As a staunch Bush supporter, I am disappointed no one has done so yet.
1 posted on 01/03/2006 8:29:35 AM PST by intruder alert
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To: intruder alert

I like cheese. Do you like cheese?


2 posted on 01/03/2006 8:30:28 AM PST by TheBigB (Never banned or suspended even once! Ask me how!)
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To: intruder alert

IBTZ


3 posted on 01/03/2006 8:30:30 AM PST by tx_eggman (If we had some bacon we could have bacon and eggs ... if we had some eggs.)
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To: intruder alert
As a staunch Bush supporter,

More like a starched athletic supporter for Hillary.

4 posted on 01/03/2006 8:30:56 AM PST by dirtboy (u)
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To: intruder alert; Darksheare; Paul_Denton; darkwing104

bye bye zot zot


5 posted on 01/03/2006 8:31:00 AM PST by MikefromOhio (Happy New Year)
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To: intruder alert
IBTZ...

I smell ozone...

6 posted on 01/03/2006 8:31:01 AM PST by Dead Corpse (Anyone who needs to be persuaded to be free, doesn't deserve to be. -El Neil)
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To: intruder alert

Unemployment is at its lowest level ever in history.


7 posted on 01/03/2006 8:31:05 AM PST by edcoil (Reality doesn't say much - doesn't need too)
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To: intruder alert

IBTZ

I love cheese and ozone


8 posted on 01/03/2006 8:31:22 AM PST by Alexander Rubin (Octavius - You make my heart glad building thus, as if Rome is to be eternal.)
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To: intruder alert

in before the ZOT!


9 posted on 01/03/2006 8:31:30 AM PST by Paul_Denton (The U.S. should adopt the policy of Oom Shmoom: Israeli policy where no one gives a sh*t about U.N.)
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To: intruder alert
"sum people are doing well"

Those that can spell and add are...

10 posted on 01/03/2006 8:31:37 AM PST by eureka! (Hey Lefties and 'Rats: Over 3 more years of W. Hehehehe....)
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To: intruder alert

Later.


11 posted on 01/03/2006 8:31:42 AM PST by JustRight
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To: intruder alert

Welcome to Free Republic. Goodbye!


12 posted on 01/03/2006 8:31:43 AM PST by MineralMan (godless atheist)
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To: intruder alert

IB4Z?


13 posted on 01/03/2006 8:31:50 AM PST by rightinthemiddle (I might be wrong, but I'm always right.)
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To: intruder alert

IB4TZ


14 posted on 01/03/2006 8:32:03 AM PST by Cyber Liberty (© 2006, Ravin' Lunatic since 4/98)
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To: intruder alert

ZOT!

15 posted on 01/03/2006 8:32:06 AM PST by Paul_Denton (The U.S. should adopt the policy of Oom Shmoom: Israeli policy where no one gives a sh*t about U.N.)
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To: intruder alert

Have a nice ZOT!


16 posted on 01/03/2006 8:32:13 AM PST by ncountylee (Dead terrorists smell like victory)
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To: intruder alert

ibtz


17 posted on 01/03/2006 8:32:23 AM PST by FMBass (“Now that I’m sober I watch a lot of news” – Garofalo: From “Treason” by Coulter)
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To: intruder alert
As a staunch Bush supporter

You are about to be staunched.

18 posted on 01/03/2006 8:32:33 AM PST by Fierce Allegiance (There is water at the bottom of the ocean.)
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To: intruder alert

Yes, please tell us what other sites you've been kicked off of.


19 posted on 01/03/2006 8:32:56 AM PST by Cinnamon Girl (OMGIIHIHOIIC ping list)
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To: intruder alert
I've been posting this at various places looking for someone who can refute it. As a staunch Bush supporter, I am disappointed no one has done so yet.

Hahahahaha.....NOT.

IBTZ?

20 posted on 01/03/2006 8:33:12 AM PST by jennyjenny
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To: intruder alert

How can you type while holding Hillary's d**k?


21 posted on 01/03/2006 8:33:16 AM PST by Tijeras_Slim ("We're a meat-based society.")
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To: eureka!

LoL


22 posted on 01/03/2006 8:33:26 AM PST by nuconvert (No More Axis of Evil by Christmas ! TLR) [there's a lot of bad people in the pistachio business])
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To: TheBigB

Did someone say CHEESE!?!


23 posted on 01/03/2006 8:33:37 AM PST by corkoman (Uncompassionate Conservative, (incompassionate?, non-compassionate?))
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To: intruder alert; MNJohnnie

ZOT Ping!

real idiot, too.


24 posted on 01/03/2006 8:33:42 AM PST by rightinthemiddle (I might be wrong, but I'm always right.)
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To: intruder alert
Here we go again. Another hayseed disruptor alert:


25 posted on 01/03/2006 8:33:47 AM PST by demkicker
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To: intruder alert

But WHERE are the Viking Kitties?????????


26 posted on 01/03/2006 8:33:49 AM PST by VRWCer (All things work together for good to them that love God. - Romans 8:28)
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To: intruder alert
Bush’s giant Right Wing Noise Machine......

We knew it was fiction from the beginning.

27 posted on 01/03/2006 8:34:05 AM PST by Niteranger68 ("Spare the rod, spoil the liberal.")
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To: intruder alert

UFO CULT GATHERS IN NY FOR APOCOLYPSE


28 posted on 01/03/2006 8:34:09 AM PST by DeaconRed (Looking for the perfect Tag-LIne.)
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To: intruder alert

Here's a secret: The federal NEVER created a single job in its history other then Federal Workers. Corporations and small businesses create jobs!


29 posted on 01/03/2006 8:34:10 AM PST by Doc Savage ("Guys, I've got a fever, and the only prescription is more COWBELL...Bruce Dickinson)
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To: intruder alert
In summation, sum people are doing well.

Dividend and multiplicand people are in crisis, however.

30 posted on 01/03/2006 8:34:20 AM PST by r9etb
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To: Tijeras_Slim

Hillary has a duck? :o)


31 posted on 01/03/2006 8:34:21 AM PST by TheBigB (Never banned or suspended even once! Ask me how!)
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To: intruder alert
Image hosted by Photobucket.com
32 posted on 01/03/2006 8:34:22 AM PST by PaulaB
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To: intruder alert; darkwing104

33 posted on 01/03/2006 8:34:29 AM PST by WakeUpAndVote (Member of the Vast Right Wing Conspiracy since 1992!)
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To: VRWCer

He's still not banned yet... Mod must be sleeping...


34 posted on 01/03/2006 8:34:29 AM PST by Gaffer
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To: Paul_Denton

Dude! That's a rocking pic form Homeworld!

Bzzzztt...


35 posted on 01/03/2006 8:34:46 AM PST by farlander
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To: intruder alert

Damn, I forgot to send you a Christmas card.


36 posted on 01/03/2006 8:34:53 AM PST by rightinthemiddle (I might be wrong, but I'm always right.)
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To: intruder alert

IBZT! WahHoo!!!


37 posted on 01/03/2006 8:35:00 AM PST by Augie
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To: MikeinIraq
Bill O'Reilly - Libertarian
38 posted on 01/03/2006 8:35:05 AM PST by stocksthatgoup ("It's inexcusable to tell us to 'connect the dots' and not give us the tools to do so." G W Bush)
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To: farlander

Thanks :) Thats one of my favorite games of all time.


39 posted on 01/03/2006 8:35:10 AM PST by Paul_Denton (The U.S. should adopt the policy of Oom Shmoom: Israeli policy where no one gives a sh*t about U.N.)
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To: intruder alert; Zavien Doombringer; Darksheare
My My MY, lookie here.
40 posted on 01/03/2006 8:35:25 AM PST by Jersey Republican Biker Chick (Cleverly disguised as a responsible adult.)
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To: intruder alert

Did I make it IBTZ?




41 posted on 01/03/2006 8:35:41 AM PST by Nothometoday
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To: intruder alert

In before the zot.


42 posted on 01/03/2006 8:36:09 AM PST by KC_Conspirator
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To: intruder alert

Very compelling article. I have been converted. See you all at DU.


43 posted on 01/03/2006 8:36:18 AM PST by rightinthemiddle (I might be wrong, but I'm always right.)
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To: VRWCer

44 posted on 01/03/2006 8:36:24 AM PST by WakeUpAndVote (Member of the Vast Right Wing Conspiracy since 1992!)
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To: intruder alert
Easy, easy, easy to refute. BLS measures "employed" based on businesses that officially employ people. What they do NOT count is self-employed and family employed.

Beginning in the 1990s, there was a huge shift to mini-companies of 5 employees or fewer (often just one or two, often married or a father/son, etc.). These DO NOT show up on THIS labor measure, but they do show up on the other survey (I forget its name now) that asks, "Do you work full time?"

That's why there is a big, big gap between the "jobs" survey and the employment/unemployment numbers. People are working---it's just that a lot are not working for someone else. We used to call that self-sufficiency, and it was considered a good thing.

45 posted on 01/03/2006 8:36:35 AM PST by LS
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To: intruder alert

IBTZ?


46 posted on 01/03/2006 8:36:37 AM PST by clamper1797 (Proud member of the Tonkin Gulf Yacht Club VA-93 aboard the USS Midway CVA-41 1972-1973)
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To: intruder alert

wow,, IBTZ!!


47 posted on 01/03/2006 8:36:46 AM PST by JoeSixPack1
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To: intruder alert

I don't understand the jargon here. Does anybody have a direct response to this?


48 posted on 01/03/2006 8:36:53 AM PST by intruder alert
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To: Gaffer

Or kindly letting us have a chance to get IBTZ!! They know how we love that!!!!


49 posted on 01/03/2006 8:36:57 AM PST by VRWCer (All things work together for good to them that love God. - Romans 8:28)
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To: intruder alert

Not zotted yet?

The mods want us to play with this one!


50 posted on 01/03/2006 8:36:58 AM PST by FMBass (“Now that I’m sober I watch a lot of news” – Garofalo: From “Treason” by Coulter)
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