FEB Fri, Mar 10:+235,000 jobs. Unemployment down slightly to 4.7%...FEB details coming.. Jobs since Trump took office?... Unemp. rate under Obama? (not yet updated)

Friday, March 10, 2017

How Many Jobs Has Trump Created or Lost? (February 2017 update)

How many NET jobs created or lost under Trump as of February 2017, during the Trump Presidency to date? How many private sector jobs have been lost or added during Trump's presidency? 

This is the FIRST month of jobs attributed to Trump's Presidency.  Job numbers for any month are reported and counted as of the week of 12th.  Obama was still the President during the week of January 12th, which is why numbers for January 2017 fall in the Obama bucket.  Now, starting with February 2017, we get to see what effect Trump's policies will or won't have on jobs.  

Let's remember that jobs tend to trend, and one or two months do not make a trend.  (Some people believe that we shouldn't count an incoming President's jobs numbers until the beginning of his first fiscal year in office, meaning starting in October, as the federal fiscal year goes from October 1st to September 30th.)  But starting with February will certainly give us a good enough trend as we move through the spring and summer.


    As we move into the Trump years, let's remember that-- 
  •                                    

  • President Obama handed off to President Trump the strongest economy in terms of jobs since the Clinton years: * 

  • 1.  Record numbers of job openings.
  • 2.  A record in consecutive months of increase in the number of private sector jobs (83 months).
  • 3. Record in consecutive months of overall job growth.  (76 months).  
  • 4. Lowest number of first-time claims for unemployment benefits since 1971.  
  • 5.    A reduction in income inequality starting in 2014.
  • 6.  An increase in inflation-adjusted weekly and hourly wages for "regular" workers.  
  • 7.  A record-increase in inflation-adjusted household income starting in 2015.  
  • 8.  An 3% INCREASE in manufacturing jobs in Obama's second term after a 27% DECREASE in manufacturing jobs under Bush II.  This was the largest one term increase in manufacturing jobs since Carter.
  • 9.  A 19% increase in construction jobs in Obama's second term.  This was the largest one term increase in construction jobs since the Clinton years.
      

    Don't mess this up, President  Trump!  WE ARE WATCHING YOU!   

    *For those who don't believe these claims, I will post links and sources for all of these in the next few days.  

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February 2017 numbers were released Friday morning, March 10th.  All FEBRUARY reports and info will be listed  HERE.
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Continue below...


Since Obama left office & Trump took office (January 2017) in seasonally adjusted numbers:
  • 235,000 MORE jobs in total
  • 227,000 MORE private sector jobs
  • 447,000 MORE people working

How many workers were full-time or part-time when Trump was inaugurated compared to now?

  • 326,000 MORE people working full-time
  • 149,000 MORE people working part-time
  • 136,000 FEWER people working part-time INVOLUNTARILY (because they couldn't find a full-time job.)  About 286,000 MORE people are working part-time voluntarily..  because they WANT to work part-time... since Trump was inaugurated. 

Have any private jobs been lost (net) over the past months since January 2017?


NO!

Have any jobs been lost (net) over the past 
month since January 2017?

NO!

Are more people unemployed now than when Trump took office in January 2017?  

NO!
  • Despite 340,000 MORE people in the labor force (either working or actively looking for work) now vs. January 2017, there are 107,000 FEWER people unemployed now than in January 2017. 






*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.
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 reportupon 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 77 months in this country, we have had MORE jobs being added than we have had jobs being cut.  For 84 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 (almost) 8 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 or Trump 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.  The numbers above reflect job gains after all job losses have been subtracted. 
For the past 84 months (as of February 2017), we have had NET gains in private jobs numbers every mon1th.  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 February 2017, which was released in early March 2017.  The surveys used to gather these numbers are taken as of the week which includes the 12th day of the month, in this case, February 12, 2016.

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