Looking at Bureau of Labor Statistics seasonally adjusted numbers for nonfarm jobs (defined as those not involving farm work, general government, private households, or nonprofit organizations serving individuals), in its 8 years (from January 2001 to January 2009 (est.)), the Bush Administration created 2,111,000 jobs or 21,990/month. 150,000 to 200,000 per month would be expected to accompany an economic expansion or, in other words, 14.4 million to 19.2 million over the course of an 8 year Presidency.

Under Bush, the economy also lost 4,401,000 manufacturing jobs. These are jobs that traditionally had good wages and benefits and at the end of the Bush Administration accounted for only 12.71 million of the nation’s 134.6 million nonfarm jobs (or 9.4% of them). Bush lost twice as many of these good paying manufacturing jobs during his time in office as he has created jobs of all other kinds. In all, the US lost 25.7% of its manufacturing jobs under Bush.

By contrast in the 8 years of the Clinton Administration (from January 1993 to January 2001), 22,744,000 nonfarm jobs were created or ~237,000/month. Bush’s job creation rate was only 9.3% of the Clinton rate. Yes, folks, that means that for every job that Bush created Clinton created 10. At the same time, manufacturing jobs in the Clinton years showed a modest increase of 323,000.

The high point for Bush job growth came in December 2007 just as, according to the NBER, the economy went into recession. At that point, Bush had created 5,609,000 or a quarter of those created by Clinton. From then to the end of his term, the economy shed 3,572,000 jobs (2,473,000 in the last 5 months of his term alone).

Despite his protestations to the contrary, these numbers paint a truly dismal picture of job growth during the Bush years.

This is cross posted as item 298 of my scandals list.

Hugh

Hugh

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