« | »

95,000 Jobs/Mo Not Enough Under Bush

We have touched on this discrepancy several times here, but here is a handy collection of past articles about what was acceptable to our media masters under Bush.

From the (New York) Examiner:

95,000 New Jobs per Month Not Enough During Bush Years

By Rob Binsrick

February 16, 2010

Last week, the Obama administration distributed an economic report that projected job growth of approximately 95,000 jobs per month through the end of the year. While that may be considered good news to Obama and his fellow Democrats who are facing a tough election year, it may not be considered good to many in the media – or at least it would not have been during the Bush administration. 

In the mid 1990s, when the U.S. economy began its recovery from the 2000 tech bust and the 9/11 terrorist attacks, some in the media claimed that the recovery was not nearly enough for the struggling economy. Below are some excerpts from various newspapers during that time:

New York Times, 08/08/03: Employment grew by 126,000 jobs in October, the best showing in nine months, and job growth in August and September was stronger than the government initially estimated, the Labor Department reported yesterday. It was the greatest job growth over three months since late 2000. Still, the recent job gains remain modest by many measures. They are not large enough to keep up with the growth of the labor force over the long term and are far smaller than the average gain over the last 50 years when the economy was growing as rapidly as it has been recently. The economy must add about 150,000 jobs or more each month to keep up with population growth and bring down the jobless rate over a long period of time.

San Francisco Chronicle, 04/03/04: Total jobs outside the farm sector soared by 308,000, the Labor Department reported Friday, the biggest monthly gain since March 2000, when the air was just beginning to rush out of the Internet bubble. Still, some experts cautioned that one month of roaring payroll growth doesn’t mean that the labor market has been restored to full health. "It’s a bit too early to celebrate," said Wells Fargo economist Sung Won Sohn. "If you look at the average for the last eight months, it’s been only 95, 000 jobs per month. That’s far below the 150,000 to 200,000 we need to absorb the new entrants to the labor force."

Washington Post, 09/04/04: Employers added 144,000 jobs to their non-farm payrolls in August on a seasonally adjusted basis, an improvement after two months in which job growth essentially stalled, but barely enough to keep pace with population growth. The nation needs to add about 150,000 jobs a month to keep pace with population growth, according to economists.

Los Angeles Times, 09/04/04: U.S. employers added a net 144,000 jobs to their payrolls in August and the nation’s unemployment rate dropped a notch to 5.4%. Employers need to add 125,000 to 150,000 net new jobs every month just to keep up with population growth, economists estimate. It would take even more growth to substantially reduce the unemployment rate, which climbed from 3.8% in April 2000 to a post-recession peak of 6.3% in June 2003.

The Boston Globe, 01/08/05: US employers boosted payrolls by 157,000 jobs in December, keeping the economy on a path of moderate expansion and completing the first year of job growth since 2000. The month’s job gains were slightly less than analysts expected, and just enough to keep up with the natural growth of the labor force and prevent unemployment from rising.

Now keep in mind that at the time that these reports were published the unemployment rate was in the 5% to 6% range, and the U.S. population was likely somewhat lower at that time as well. So if adding 126,000 to 157,000 jobs was supposedly not good enough to help the employment situation in the mid 90s, then how could adding just 95,000 jobs per month be of much help when the unemployment rate is nearly double the rate that it was back then? …

Obviously the laws of economics have changed in the era of Obama.

This article was posted by Steve on Tuesday, February 16th, 2010. Comments are currently closed.

7 Responses to “95,000 Jobs/Mo Not Enough Under Bush”

  1. JohnnyT says:

    The Illegal aliens had jobs in 2002, 2004, 2005 etc. also, as I remember.
    They are here, working in about every sector of our economy right now. Doing jobs Americans will do, and jobs Americans have always done.

    • Rusty Shackleford says:

      Need to send the illegals packing and incarcerate the Americans who hired them. Simple problem, simple solution.

    • proreason says:

      Congress should be sent home forever.

      Enforcing the existing laws is enough to take the country back.

  2. GetBackJack says:

    Out here, the Green Agenda of Obama and Colo Gov Ritter has decimated the economy of Western Colorado/Eastern Utah.

    Energy companies that were excitedly ramping up to tap into the staggeringly large reserves of carbon-based energy supplies out here saw the handwriting on the wall and simply pulled up stakes and got out of Dodge. Thousands upon thousands of jobs disappeared with them.

    It’s not exactly a ghost town out here, but Obama-Policies kill jobs …. they don’t make jobs.

  3. TerryAnne says:

    Anyone else realize the idiocy of this statement:

    In the mid 1990s, when the U.S. economy began its recovery from the 2000 tech bust and the 9/11 terrorist attacks, some in the media claimed that the recovery was not nearly enough for the struggling economy. Below are some excerpts from various newspapers during that time:

    Was Clinton psychic? Or is it Obama?

  4. proreason says:

    The msm is beneath contempt. It’s a toss-up whether they are more dangerous than the Moron and his fascist cabal.

  5. Right of the People says:

    If you look at the claims they various Lame Stream Media was making back then to bring those figures into 2010 terms we need around 400,000 to 550,000 new jobs per month to keep up.

    I’m sure as soon as the nitwit in the Oval Office realizes this, the books will be cooked accordingly and all will be right in Obammyland again. Cats and dogs will live in harmony, beer will flow freely in the nation’s streams and waterways and the jihadis will love us. Huzzah, huzzah!

« Front Page | To Top
« | »