Job Growth Improves Under Obama As Bush Recession Continues
chart-job-growth-bush-obama

Republican economic policies, particularly the elimination or under-funding of financial regulatory systems, all but destroyed the U.S. economy. Now the jobs picture for March shows modest growth and may be the first sign that Democrats’ efforts to revive the economy and bring the Bush Recession to an end may be working:

Employment in March grew by the most in three years, representing a turning point for the labor market that will help broaden the U.S. economy as it recovers from the deepest recession in seven decades.

Payrolls rose by 162,000 workers, the third gain in the past five months and the most since March 2007, figures from the Labor Department showed yesterday in Washington. The increase included 48,000 temporary workers hired by the government to conduct the census. Unemployment was 9.7 percent for a third month.

Manufacturers, health-care companies, temporary-help service providers and warehouses were among those adding jobs in a sign the expansion is becoming more entrenched. The jobless rate was unchanged even after Americans who had previously dropped out of the workforce decided to resume the job search, pointing to growing confidence that the world’s largest economy will continue to grow.

However, until the financial industry is re-regulated so that the safeguards that were in place before December 1999 are reinstated, the risk of another collapse will remain.

18 Responses »

  1. Realist April 3, 2010 @ 9:19 pm

    I beg to differ.

    I live in California’s Inland Empire, an area whose unemployment numbers rival those of Michigan. I have three children desperately looking for employment to maintain their college enrollment, and a wife who just received a layoff notice. All can find little work to apply for, and even when they do apply they don’t get called for an interview. Until this situation reverses for them, I cannot agree that things are “getting better”.

  2. thomas moore April 4, 2010 @ 12:01 am

    You will have to move the regulatory clock back to like 1994, not 1999. The Slippery Slope started with bad Executive Management. As they let the base dictate what the policies should be, as they made their actions look like they were saving the public from the vast right wing conspiracy. As a result, most of the Executive Branch became multi-millionaires upon leaving office. This collapse is not the fault of any one person. A Presidents Economic Policies take on average 6-10years to be fully realized. The recovery of 2002 – 2007 was not a recovery, but a bump. This recession is simply the second dip of the failures of the late 90’s.

  3. davec April 4, 2010 @ 12:11 am

    Actually a good article using numbers.

    If they are correct, then a lot of people are wrong.

    1. housing will go back to the right price within 2 years.
    2. there will be a employee shortage within 3 years.

  4. GarryInNola April 5, 2010 @ 2:07 pm

    I’m not sure we should go back to a recovery where a large percentage of our economy is based on building ticky-tacky houses in subdivisions that require driving in automobiles to go about any of the activities of life. These new “homes” may look fine from outside with their multi-gabled roofs and phony facades but a closer look reveals they are made of little more than vinyl and pressboard. This living arrangement will not survive much longer no matter how many electric cars are manufatured and sold.

  5. Burned by Meg September 17, 2010 @ 12:00 am

    @realist. I feel for you and your family. Things are tough in Ca., especially where you are. During the Bush credit bubble 50% of jobs in Ca. were real estate related. When the bubble burst the jobs evaporated. Given the obstruction by Republicans in the Senate it’s a wonder things aren’t worse, we need infrastructure stimulus spending to get people jobs now and provide for our future. China is putting in an internet structure 200 times faster than ours. Ouch. Yet we can’t get the bill through Congress to compete. This is not just economic, it will effect our national security, too. Innovation is already shifting to China, we are losing the national race because of Republican naysayers and they are holding your kids future hostage because they only care about their own power.

    It’s a shame that Governor Arnold has not come up with any effective jobs creation. Meg Whitman has no answers either. I am really bothered that anyone would spend 120 million of her own money for a 200k year job. She has no plans to elminate the budget deficit (other than a witch hunt) and I keep asking myself what does she think she can get out of the governorship that is worth over 100 million? The woman made a fortune talking up the stock of ebay and selling her share when they were trading at sky high prices. Now the stock is down in the twenties but she’s already made her fortune. I don’t trust her. I sure as hell don’t think she cares about you or kids. Good luck. Things aren’t as bad as they were and hopefully they’ll get better.

  6. Born in Bronx August 5, 2011 @ 11:06 am

    So it seems this article is (or was) way off. Typical leftist media and pro Obama garbage that prefers to point fingers rather than report news. To all of you respondents in this article I just say boo hoo. This South Bronx native has seen the same economic landscape for the last 38 years and as leftist as this city is, it has done nothing but talk talk talk. All programs to help this neighborhood have failed. ALL OF THEM. I am NO REPUBLICAN, but I can see at least the conservative POV isn’t sugar coating it with some promise of a “government program” to fix it. And EVERY dam time the government puts up another “affordable” housing project up the neighborhood goes DOWN even further. I just dont see government ever getting it right and I wish they would just leave things alone. I think ALL politicians are liars and out only to fill an agenda. Both sides and an agenda. You dont matter and neither do I.
    Keep dodging bullets and hope the Yankees win is all I can do

  7. Madison August 5, 2011 @ 12:12 pm

    Nihilism is so New York.

  8. rasqual September 9, 2011 @ 6:39 pm

    Heh. The chart shows what happens when employers fear a Democrat’s going to end up in charge. ;-)

    Look for a Bull market when Perry’s elected next November.

    For about two weeks, anyway. It won’t turn into a bubble, because we still face a slew of problems — including new regulatory costs under this yahoo pres. we have now.

  9. terry September 10, 2011 @ 5:06 am

    you cant compare this job growth. under bush, the unemployement was about 4%.therefore there wasnt that many people looking for a job.under obama the unemployement is 9.2% so therefore there are alot of people looking for jobs

  10. Jon September 10, 2011 @ 5:13 am

    It was deregulation under Bush and his rubberstamp Republicans that led to the crash in 2008 and the Bush recession we’re still recovering from now.

  11. Madison September 10, 2011 @ 5:29 am

    terry – Job growth is not directly connected to the number of people looking for jobs.

  12. Jeff Thomas July 6, 2012 @ 4:58 pm

    The Obama policies did not realy take effect until March – June 2009 with stimulus and other efforts. So if we look at that point forward the economy really stalled out…not much growth when Obama finally got his policies in place.

  13. Madison July 7, 2012 @ 4:19 am

    Gee, Jeff, are you blind. The graph above as well as the data shows precisely the opposite of what you are saying.

  14. Honor August 28, 2012 @ 3:28 pm

    Love that first comment… “If things aren’t better for me, things aren’t better for ANYONE!” 9_9

  15. Analyss August 29, 2012 @ 10:07 am

    While many seem skeptical, they also refuse to admit that the president inherited this economy from the Bush administration. This graph is the first to show exactly what the economy was like when Obama came to office. Let’s be real! The republicans are determined to drive out the middle class and leave only the dirt on our faces to us if we allow them back in office. I’m saddened to think that this is what they mean when they push for the South to rise again!

  16. louis August 29, 2012 @ 4:47 pm

    Why does this graph look different from the other ones I am seeing on the web? Could you be fudging the graph to make it support your stance more?

  17. amy August 29, 2012 @ 7:58 pm

    Bush made a lot of mistakes I agree but Obama has made even more of them Wake up people

  18. Madison August 30, 2012 @ 6:16 am

    Amy, you’re the one who needs to wake up. The only mistakes Obama has made were in trying to work with Republicans in Congress who deliberately obstructed the economic recovery in order to make him a “one term president” even if stalling the recovery meant their own voters back home were laid off, forced into bankruptcy and foreclosure.

    Bush’s mistakes included war crimes: sending a great nation to war based on lies or bad intel (take your pick) an act of gross incompetence that led to the deaths of thousands of U.S. service members and tens of thousands of innocent men, women and children in Iraq, not mention the cost of $1 trillion that he charged onto the nation’s Chinese credit card. It was Bush who ran up $5 trillion in debt with his unfunded wars and fake Medicare “benefit,” all of which, by the way, Paul Ryan voted for.

    Bush left office as the most unpopular president in the history of presidential polling, and rightly so. Obama’s favorable rating is around 50 percent right now, while, by comparison, your guy Mitt Romney is down around 40 percent.

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