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Thursday, September 6, 2012

Fact checking Bill Clinton On Jobs Numbers

I'll update this today and tomorrow with jobs claims made by Bill Clinton in his Democratic National Convention speech earlier this evening, September 5, 2012.

4,500,000 more jobs?

Yes...  Since the "trough" of the recession in terms of jobs in February 2010, we have added 4,545,000 more private sector jobs, and 4,001,000 jobs in total.  

In February 2010, we had 129,244,000 jobs in total.  
In July 2012 (latest data available), we had 133,245,000 jobs in total.


133,245,000 jobs now minus 129,244,000 jobs in February 2010 equals 4,001,000 MORE jobs.

In February 2010, we had 106,773,000 private sector jobs.

In July 2012 (latest data available), we had 111,317,000 private sector jobs.   

111,317,000 private sector jobs now minus 106,773,000 in February 2010 equals 4,545,000 MORE private sector jobs.

Source:  Bureau of Labor Statistics tables CES0000000001 and CES0500000001.  Jobs numbers on these tables are NET jobs numbers; that is, they are the number of jobs added in a month after all jobs lost in a month are subtracted; or they are the number of jobs lost in a month after all jobs gained in a month are added.  Please remember that jobs are gained and lost every month, in good times and bad.  When more jobs are lost than gained, the monthly jobs numbers are negative and the total number of jobs goes down.  When more jobs are gained than lost, the monthly jobs numbers are positive and the total number of jobs goes up.       

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