Job Gains: How have Presidents fared?

Sunday, February 06, 2005 | 09:12 AM

Jobs-data-palooza continues, with an analysis of the jobs data for each Presidential term, by Global Insight (via WSJ).

Note that most Presidents tend to get too much blame and take too much credit for economic gaisn and losses. That said the WSJ reported that "Bush gained jobs during his first term but in percentage terms, his job creation record compares poorly to that of almost every previous presidential term for which comparable data is available, according to research firm Global Insight."

Three charts show how the present administration is faring vis-a-vis past Presdients:

Here are 3 different looks, based on monthly and annual Payroll survey, as well as the monthly Household survey:

Annual Payroll data
Click graphic for larger chart

Wsj_prez_annual_payroll_1

Monthly Payroll data
Click graphic for larger chart

Wsj_prez_monthly_payroll

Monthly Household data
Click graphic for larger chart
Wsj_prez_monthly_hh

The payroll survey is a survey of major nonfarm employers. The household survey polls households by telephone, and is smaller than the payrolls survey. Monthly payroll data is available only back to 1939. Annual payroll data before 1940 is on a slightly different basis than data after 1940. The household data have been "smoothed" to account for periodic census-related changes in the estimated underlying population.

Source: Global Insight

Sunday, February 06, 2005 | 09:12 AM | Permalink | Comments (1) | TrackBack (0)
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Comments

Based on the above charts, it looks to me that if you want sustained job growth in this country, you better have a Democrat in the White House. Otherwise, you get the opposite. Stagant wages and low unemployment, which can have other adverse effects on the nation, such as higher crime rates, larger gaps between those at the bottom of the economic ladder and those at the top. And a smaller middle-class.

For all of those 59 million Americans who voted for Bush/Cheney, I hope you're happy with your choice.

Posted by: Richard | Feb 10, 2005 3:23:13 PM

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