Yet Another Look At Jobs
Year Total Total Natural Construc- Manufac-
and Total private goods resources tion turing
month producing and
mining
1992...... 108,726 89,940 22,095 689 4,608 16,799
Clinton
1993...... 110,844 91,855 22,219 666 4,779 16,774
1994...... 114,291 95,016 22,774 659 5,095 17,021
1995...... 117,298 97,866 23,156 641 5,274 17,241
1996...... 119,708 100,169 23,410 637 5,536 17,237
1997...... 122,776 103,113 23,886 654 5,813 17,419
1998...... 125,930 106,021 24,354 645 6,149 17,560
1999...... 128,993 108,686 24,465 598 6,545 17,322
2000...... 131,785 110,996 24,649 599 6,787 17,263
BUSH
2001...... 131,826 110,707 23,873 606 6,826 16,441
2002...... 130,341 108,828 22,557 583 6,716 15,259
2003...... 129,999 108,416 21,816 572 6,735 14,510
2004(p)... 131,481 109,863 21,885 591 6,965 14,329
Those numbers are from the folowing government publication
ftp://ftp.bls.gov/pub/suppl/empsit.ceseeb1.txt
Let's see....
By my math Bush started with 110,996 (end of 2000/start of 2001) thousand jobs and ended with 109,863. The 109,863 is a preliminary number. From that Bush lost 1,133 thousand jobs or 1.133 Million jobs.
The 2005 report that just came out reported 110,862 jobs.
Although I think that is a lie and will be made up for by modifying job growth going forward, for the sake of argument I will accept it.
If we accept that number as fact, my math says that Bush started with 110,996 thousand jobs and ended with 110,862 jobs which is a net loss of a mere 134,000 private non-farm jobs on his watch. I suspect someone at the BLS missed this bit of history and will probably play with these numbers later to prove that Bush did not lose private jobs on his watch.
From this it does seem that my initial starting figure of 111,622 thousand jobs was incorrect. The ending total from Dec 2000 of 110,996 seems to be the correct starting number. Thus I believe Bush "only" lost 134,000 jobs on his watch, not the 760,000 number that was posted earlier.
Let's see how Clinton did with private jobs.
Clinton inherited 89,940 thousand private jobs.
Clinton ended with 110,996 thousand private jobs.
By my math Clinton created 21,056 thousand jobs or 21.056 Million jobs.
To be fair, one can not really credit all of those jobs to Clinton. He was fortunate to have come along at a time in history when the internet was being built and job opportunities were everywhere. I have stated repeatedly that I do not blame Bush (for the most part) for the loss of jobs under his watch. His fate in history was to be elected right as a boom was ended.
The facts are what they are however.
Bush lost 134,000 private non-farm jobs on his watch
Clinton gained 21,056,000 private non-farm jobs on his watch.
If someone wants, they can double check my math and see if I have the numbers correct.
No matter how you slice it however, job creation under Bush has been pathetic. That is simply an undeniable fact.
This "recovery" was built on the quicksand of loose money and ever increasing debt. No more, no less.
Mish |
