This report is outdated. Current information can be found at either of the links below.
How many NET jobs created or lost under Obama* as of March 2015? How many private sector jobs have been lost or added during Obama's presidency?
How many new jobs in the last 6 years since Obama was inaugurated? How many Americans were working or employed when Obama took office... compared to now?
Continue below.....
Numbers for March with latest revisions:
Since the "trough" of the recession in late 2009/early 2010 in seasonally adjusted numbers:
- 11,534,000 MORE payroll jobs in total
- 12,112,000 MORE private sector jobs
- 10,318,000 MORE people working (includes self-employed and agricultural workers)
How many workers were full-time or part-time at the "trough" of the recession in late 2009/early 2010 compared to now?
- 10,465,000 MORE people working full-time.
- 178,000 FEWER people working part-time.
- (Yes, despite what you may have heard, from the depth of the recession until now, we have many more additional people working full-time vs. part-time jobs. When a recession hits, companies generally cut back on full-time workers first. When companies start hiring again, the number of full-time workers increases.)
Since Bush left office & Obama took office (January 2009) in seasonally adjusted numbers:
- 7,206,000 MORE jobs in total
- 7,887,000 MORE private sector jobs
- 6,179,000 MORE people working
How many workers were full-time or part-time when Obama was inaugurated compared to now?
- 5,206,000 MORE people working full-time
- 924,000 MORE people working part-time
Have any private jobs been lost (net) over the past 61 months since February 2010?
NO!
- 61 months of consecutive private-sector job growth.
- The longest consecutive period of private-sector job increases since this number has been recorded.
- ALL jobs losses since the recession (January 2008 was the prior peak of jobs) have been made up, added back, or recovered.
Have any jobs been lost (net) over the past 54 months since September 2010?
NO!
- 54 months of consecutive overall job growth.
Are more people unemployed now than when Obama took office in January 2009?
NO!
- Despite 2,696,000 MORE people in the labor force (either working or actively looking for work) now vs. January 2009, there are 3,483,000 FEWER people unemployed now than in January 2009.
*What's the difference between "net" and "gross" jobs gained and lost?
Let's get something straight: Jobs are lost every week and every month. People are fired, people are laid off, businesses or locations are closed and everybody is let go.
Also people quit every week. You yourself, dear reader, may have quit a job at some point in time.
Let's get something straight: Jobs are lost every week and every month. People are fired, people are laid off, businesses or locations are closed and everybody is let go.
Also people quit every week. You yourself, dear reader, may have quit a job at some point in time.
But people are also HIRED every week and every month. New businesses open, businesses expand, businesses replace people who have left or been fired. Every week. You yourself, dear reader, may have been hired for a job at some point in time.This happens in good times and bad.
Yes, even in bad times, people are getting hired. Even in good times, people are let go.
Now: The monthly jobs report, upon which this article is based, presents estimates based on surveys as to how many jobs are gained or lost in a given month. Those numbers are based on the number of new jobs (people getting hired, businesses opening) MINUS the number of jobs that have been cut (people getting fired, people quitting, businesses closing or cutting back).
The monthly jobs report therefore reports NET job growth or loss.
For 54 months in this country, we have had MORE jobs being added than we have had jobs being cut. For 61 months in the private sector (not counting federal workers, state or local workers such as teachers, firemen, cops, or people who staff the DMV, only counting people who work for private businesses), we have had MORE jobs added than we have had jobs being cut.
To reiterate: How many jobs have been created in the last 6 years versus how many jobs have been lost?
All numbers provided on monthly jobs reports, which is what the series on jobs created/lost under Obama is based, are NET jobs numbers. In other words, they reflect gains after all job losses are subtracted, or they reflect job losses after all gains are added.
For the past 61 months (as of March 2015), we have had NET gains in private jobs numbers every month. In other words, in every month since February 2010, more private jobs have been created than have been lost. In every month since September 2010, more jobs in total have been created than have been lost. This is the longest consecutive period of job growth since these numbers have been recorded.
Fact check and important information on these jobs numbers...
The above jobs numbers are from the BLS jobs report of March 2015, which was released in early April 2015. The surveys used to gather these numbers are taken as of the week which includes the 12th day of the month, in this case, March 12, 2015.
I heard all the net job gains in the last 6 years have been in Texas, is that true?
ReplyDeleteThat sounds like a Republican wet dream. No, it is not true. Since the trough of the recession, in early 2010, the economy as a whole has added 12 million jobs. Texas is a big state, and 1.5 million of those new jobs were created in Texas. So Texas did add more than its share in terms of jobs. However, if you look at weekly hours, average hourly pay, and average weekly pay compared to January 2008, the "peak" before things fell apart, Texas has not done as well as the US as a whole. The average weekly wage in the US has increased 17.6% since January 2008 (not adjusted for inflation), but the average weekly wage in Texas has only increased 16.4%.
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