AUG: +151,000 jobs. Unemployment rate steady at 4.9%. AUG details here!.. Jobs since Obama took office?... Unemp. rate under Obama?

Friday, August 3, 2012

Private & Government Jobs Gained & Lost Under Obama (July 2012 update)

JUNE 2013 BLS Jobs Numbers and Unemployment Rate were released today, Friday, July 5th.  Details and links HERE!!

This report has been updated for JUNE 2013 HERE!!

All jobs numbers & reports  (2013, 2012, and 2011) HERE!!

How many jobs (total, private, and government) have been lost or gained since Obama was inaugurated?  
  • 4,317,000 TOTAL jobs (in seasonally adjusted numbers) were LOST in from the time Obama took office until the "trough" of the recession in early 2010.  That's a decrease of 3.2%. 
  • 4,001,000 jobs (in seasonally adjusted numbers) were CREATED from the "trough" of the recession until now, July 2012.  That's an increase of 3.10%.
  • In total, 316,000  jobs (in seasonally adjusted numbers) were LOST from the time Obama took office until now, July 2012.  That's a decrease of 0.24%. *
  • We have experienced 22 months WITHOUT job losses since September 2010.  We have ADDED 3,360,000 jobs during those 22 months. 
  • We now have 133,245,000 TOTAL non-farm jobs.  

*  These are all net figures, meaning that they represent the total number of jobs at the end of a reporting period.  All losses have been subtracted from all gains and vice verse.
    *  Though, as of July 2012, we still have fewer jobs (in adjusted numbers) than when President Obama took office, jobs are being added at a faster clip under Obama than under George Bush at the same time in his presidency.  At this point in Bush's presidency (July 2004), there were still 978,000 FEWER jobs than when he was inaugurated in January 2001 (compared to 316,000 FEWER for Obama).  The number of jobs didn't eclipse the number when Bush was first inaugurated until February 2005, in Bush's second term.   

    How many PRIVATE sector jobs have been lost or gained since Obama was inaugurated?
    • 4,213,000 PRIVATE-sector jobs (in seasonally adjusted numbers) were LOST from the time Obama took office until the "trough" of the recession in early 2010.  That's a decrease of 3.8%.
    • 4,545,000 PRIVATE-sector jobs (in seasonally adjusted numbers) were GAINED OR CREATED from the "trough" of the recession until now, July 2012.  That's an increase of 4.26%.
    • In total, 332,000 private sector jobs (in seasonally adjusted numbers) have been GAINED from the time Obama took office until now, July 2012.  That's a net increase of 0.30%. *
    • We have experienced 29 months of positive private-sector job GROWTH from February 2010 until July 2012.  We have added 4,545,000 private-sector jobs during those 29 months.    
    • We now have 111,317,000 PRIVATE sector non-farm jobs.
    *Though, as of July 2012, we still have fewer private-sector jobs (in adjusted numbers) than when President Obama took office, jobs are being added at a faster clip under Obama than under George Bush at the same time in his presidency.  At this point in Bush's presidency (July 2004), there were still 1,749,000 FEWER private sector jobs than when he was inaugurated in January 2001 (compared to 332,000 MORE for Obama).  The number of private-sector jobs didn't eclipse the number when Bush was first inaugurated until June 2005, in Bush's second term.       

    How many GOVERNMENT jobs have been lost or gained since Obama was inaugurated?
    • 102,000 GOVERNMENT jobs (in seasonally adjusted numbers) were LOST from the time Obama took office until the "trough" of the recession in early 2010.  That's a decrease of  .47%  (about half of a percent). 
    • Another 548,000 GOVERNMENT jobs (in seasonally adjusted numbers) were LOST from the "trough" of the recession until now, July 2012.  That's a decrease of 2.43%.
    • In total, 648,000 government jobs (in seasonally adjusted numbers) were LOST from the time Obama took office until now, July 2012.  That's a decrease of 2.87%. 
    • We have experienced decreases in the number of government jobs in 23 out of the last 26 months, starting in June 2010, when the layoff of 2010 Census workers began.  
    • We now have 21,928,000 GOVERNMENT non-farm jobs, not including people in the military.  (Civilians employed by the U.S. and working for the military are counted.)
    (Note:  Current numbers taken from the June Bureau of Labor Statistics Employment Situation Report.  Historical numbers taken from various archived Employment Situation reports as indexed HERE. Specifics will be provided upon request; please email me or leave a comment.)

    An afterthought---
    A reader asks:

    How Many Private Sector Jobs Were Lost Because of Obama?

    We haven't lost ANY private sector jobs (net) since February 2010, a year after Obama took office.  Between January 2009 and February 2010, we lost 4,213,000 private sector jobs as stated above.

    Should we "blame" Obama for not being immediately able to stem the tide of private sector job loss in 2009?  If a house is burning out of control and the fire department comes to put out the fire, it continues to burn until it is brought under control and cooled down, right?  Now.. would you blame the fire department for the continued fire and the time to put it out after the firefighters arrive on the scene?


    Well, you might, but I wouldn't:  Here's my reasoning:  Burning Down the House!


    So my answer to this question would be a big, fat ZERO.  I do NOT feel that Obama is to blame for any loss of jobs between January 2009 and February 2010.  If you think he is, please leave a comment and explain your reasoning! 

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