It’s another bad week to be a Republican, what with Speaker-in-Hoping Kevin McCarthy unable to handle even a Fox interview without spilling the beans on his own party’s abuse of taxpayer money for partisan political purposes and now here come the job numbers. President Obama is continuing setting records for private sector job growth, and there are a few numbers that belie Republican claims. Or, as Republicans whine, “Thanks, Obama.”
Jason Fuhrman Chairman of the Council of Economic Advisers, said in a statement, “Our businesses have added 13.2 million jobs over 67 months of growth—extending the longest streak on record.”
Oh, dear. “The economy added 142,000 jobs in September, extending the longest streak of private-sector job growth on record.”
All is not peachy, as you probably already know. “The economy added jobs in September at a pace below that seen earlier in the year, as slowing growth abroad and global financial turmoil have weighed on economic activity.”
But before Republicans start celebrating the downfall of the country, “Overall, however, the unemployment rate remains at its lowest level since early 2008 and the private sector has added 13.2 million jobs over 67 straight months of job growth—the longest streak on record.”
And a warning shot for Republicans, “Given the increased uncertainty around the world, it is imperative that the United States not further exacerbate that uncertainty with unnecessary brinksmanship and austerity. Instead, we must take steps to continue the domestic momentum that the U.S. economy has enjoyed in the last several years. That includes passing a budget that reverses the sequester and makes critical investments that help our economy continue to grow, reauthorizing the Ex-Im Bank so that our businesses can compete on a level-playing field abroad, and increasing investments in infrastructure.”
Good luck with that, sane people. Republicans are blowing off Wall Street’s terror over their inability to govern, they certainly aren’t going go care about the people or the economy. They have nutters to appease, after all, and a shutdown over what they know to be fake Planned Parenthood videos. Very serious people, the Republicans.
Another sour note for Republicans is that, as Fuhrman noted on Twitter, “Full-time jobs more than fully account for all job gains since early ’10, with part-time jobs holding steady”. Read it and weep, Republicans. So much for the claims that Obamacare was ruining the world and everyone would be working part-time.
From Fuhrman’s key points on the job numbers:
The rise in employment since early 2010 is more than fully accounted for by the increase in full-time employment, with part-time employment holding steady. The economy has added 11 million full-time jobs since February 2010, according to a separate survey of households that measures full-time and part-time status. Part-time employment has fallen slightly over this period. While 75 percent of part-time workers do so for family, health, and other reasons, the fraction of the labor force working part-time for economic reasons declined in September. This shift drove the reduction in the underemployment rate to its lowest level since May 2008.
In fact, Dan Diamond, the Executive Editor of the Daily Briefing, noted, “Obamacare was signed into law in March 2010. The private sector hasn’t lost jobs since”:
— Dan Diamond (@ddiamond) October 2, 2015
Diamond made the point in an article at Forbes that Republicans claimed Obamacare would be a job killer and it is clearly not.
Wait, it’s not over yet. Republican presidential candidates keep trying to sell the fake reality that jobs have suffered under President Obama and only they know how to fix things, with a little more trickle down. They know how to jump-start the economy for jobs! It’s by giving tax breaks to the top 2! But so much nope.
Diamond also shared this, “Bush inherited 4% unemployment, and doubled it. Obama faced 10% unemployment in his first year—and cut it in half.”
Bush inherited 4% unemployment, and doubled it. Obama faced 10% unemployment in his first year—and cut it in half. pic.twitter.com/W032mvCzsY
— Dan Diamond (@ddiamond) October 2, 2015
So trickle down Bush doubled unemployment and the socialist Obama cut unemployment in half and set records for private sector job growth.