BREAKING: Obama Just Set An All-Time Record Among Presidents
news.groopspeak.com
President Obama is now in the record books. He just reached a record-setting 78 months of job growth. Since 2010, businesses have added more than 15.1 million jobs. That’s longer than any president ever has before.
This news comes after the August jobs report was just released, showing an additional 151,000 added in that month alone. Jason Furman, the Chairman of the Council Economic Advisers, added: this is while “the unemployment rate and labor force participation rate have both held steady.”
He further stated:
“So far in 2016, job growth has averaged a solid 182,000 jobs a month, well above the pace of about 80,000 jobs a month needed to maintain a low and stable unemployment rate, and hourly earnings for private-sector workers have increased at an annual rate of 2.8 percent, much faster than the pace of inflation.”
We must remind you, this isn’t partisan analysis. This is undisputed data. In the past, the GOP used to complain about the low unemployment (this was their primary talking point) but since Obama took office, and with those numbers showing only positive growth, they have instead switched their argument to the economy’s participation rate.
Except – there’s only one problem with that. The participation rate is largely in decline due to the baby boom generation retiring. In fact, it’s been in decline for quite some time, spanning back even before George W. Bush’s presidency.
The truth is, the economy hasn’t been this good in some time. It’s nearly 15 percent bigger, actually, than it was in 2008. It’s time to start giving President Obama credit where credit is due. Republicans may not like it, but the fact remains, Obama just made history. |
