How Bad Is Obama's Jobs Record? Let's Count The Ways
December's disappointing job numbers came in below expectations, again dampening hopes for sustained economic growth. But the latest data just scratch the surface of Obama's dismal failure on jobs.
The number of jobs created in December was the lowest in three years, and while the official unemployment number dropped to 6.7%, that was almost entirely due to more than half a million people giving up looking for work.
Of course, a month of data doesn't mean much.
So, for some badly needed perspective, we've created Obama's Jobs Index to show how Obama's policies have failed to create adequate job growth.
6.3 million: Net new jobs created since Obama's recovery started in June 200913.8 million: New jobs that would have been created had Obama's kept pace with the average of the previous 10 recoveries.
3.6%: Growth in private jobs since Obama took office.
43%: Growth in the number of temp jobs.
91.8 million: Number of people not in the labor force as of December.
525,000: Increase since November.11.2 million: Increase since Obama took office.
6.7%: Jobless rate 54 months into Obama's recovery.5.1%: Unemployment rate 54 months into George W. Bush's "jobless" recovery.13.1%: Jobless rate in Dec. using a broader measure — U6 — which includes people marginally attached to labor force or working part time for economic reasons.9.2%: Average U6 rate in Bush's eight years in office.
26%: Share of adults who say at least one household member is unemployed, based on IBD/TIPP Poll data.10%: Share who say a household member had work hours cut because of ObamaCare.
3.9 million: Number of people who've been jobless 27 weeks or more in December.
2.7 million: That number when Obama took office.
37 weeks: Average length of unemployment in Dec.
20 weeks: Average length when Obama took office......
$1,006: Drop in median household income during the 2007-09 recession.$2,535: Drop in median income after the recession ended in June 2009
, according to Sentier Research.http://news.investors.com/ibd-editorial ... e-jobs.htm