The private sector has added 10 million jobs over 54 straight months,
an extension of the longest streak on record for private sector job
growth ...
The Department of Labor
announced Friday that the economy added 142,000 jobs and the
unemployment rate dropped (little change) to 6.1%. The private sector
has added 10 million jobs over 54 straight months, with private
businesses adding 134,000 jobs in this report. President Obama has
shattered Bill Clinton’s previous record of 51 consecutive months of private sector job growth.
This is an extension of the longest streak on record for private sector
job growth and it happened under a Democratic President.
Upon release of the new jobs report from the Bureau
of Labor Statistics (BLS), Jason Furman, Chairman of the Council of
Economic Advisers, noted, “The private sector has added 10 million jobs
over 54 straight months of job growth, extending the longest streak on
record. Today we learned that total nonfarm payroll employment rose by
142,000 in August, mainly reflecting a 134,000 increase in private
employment. Private-sector job growth was revised up for July and down
for June for little total revisions. Over the past twelve months,
private employment has risen by a total of 2.4 million.”
Chart via Jason Furman:
This surge in private sector job growth is the
opposite of what Republicans told the public would occur under a
Democratic President. The repugicans claim to be the party of business and
of the markets, yet time and time again, we see consistent growth under a
Democrat.
Furman further noted that the other time we added 10
million private sector jobs was between November of 1996 to April of
2001. Former President Bill Clinton served as President from 1993 to
2001. It’s almost as if as soon as he left office, the private sector
began weeping jobs.
An excellent record of job growth under a Democratic President is not an anomaly. President Clinton added a total of 23.1 million jobs,
while the shrub only added 3 million over his entire 8 year term
and his father, the shrub's daddy, only added 2.5 million but he did that
over one term. Heck, Ronald Reagan only added 16 million jobs, and he
is held up by repugicans as the business god.
All is not rosy, however, “Although the pace of job
gains in August was below recent months, the broader trends are moving
in the right direction.” Furthermore, “Long-term unemployment has fallen
rapidly over the past year but remains well above its pre-recession
average.” That recession started in 2007.
It is thanks to the Congressional repugicans
that the unemployment numbers are not better. Not only have House repugicans refused to pass a real jobs bill, but they’ve also been
engaged in a desperate defunding war on government and public sector
employees. This specific poutfest is years old now.
Furman said in his statement that the report proves
we need to do more to create jobs, “With today’s report, the economy has
now added 10 million private-sector jobs over 54 straight months of job
growth. This figure is a marker of the progress that has been made, but
also a reminder that more must still be done to create jobs, especially
for the long-term unemployed, and grow the middle class. Although the
pace of job gains in August was below recent months, the broader trends
are moving in the right direction. To continue to support the progress
our economy has made, the President will act wherever he can to create
good jobs, facilitate investments in American infrastructure and
manufacturing, and make sure that hard work pays off with higher wages.”
Democratic Leader Nancy Pelosi concurred in her
statement, “Today’s jobs report shows our economy continuing to move
forward. It is clear, however, that repugicans’ special interest
obstruction and dysfunction are stalling the middle class and costing
our country jobs.”
Pelosi continued, “Across the country, Americans are
raising a drumbeat for action, calling for a Congress committed to
creating jobs, jumpstarting the middle class, and building an economy
that works for everyone, not just the wealthy. They want us to spend
September creating good paying jobs, raising the minimum wage, renewing
emergency unemployment insurance, standing with students, and giving
America’s women the respect of equal pay for equal work. Yet House repugicans continue to insist on putting the special interests ahead of
everyone else, planning yet another month of special interest giveaways
– including their 53rd vote to repeal the Affordable Care Act.”
The next time someone calls repugicans the party of business and private sector success, just point them to the Obama stock market and the private sector job growth under Clinton and Obama.
Then you can kindly point out that when repugicans
talk about “business” it is really a euphemism for catering to a select
few big businesses that donate heavily to the repugican cabal and whose profit margins grow when they are allowed to harm
and even kill U.S. citizens through deregulation and underfunded
government agencies. If your “business” is death and disease, then the repugican cabal is your party. If it’s jobs you’re looking for, private sector job
creation has been best under a Obama and then Clinton.
Imagine what a Democratic Congress might accomplish.
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