Democratic Presidents Bring It: Obama Shatters Clinton’s Record For Private Sector Job Growth

Photograph: Carolyn Kaster/AP
Photograph: Carolyn Kaster/AP

What do President Bill Clinton and President Barack Obama have in common? They both presided over record setting streaks of 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:

jobs

This surge in private sector job growth is the opposite of what Republicans told the public would occur under a Democratic President. Republicans 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 George W. Bush only added 3 million over his entire 8 year term and his father, George H.W. Bush, 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 Republicans 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 largely thanks to the Congressional Republican that the unemployment numbers are not better. Not only have House Republicans 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 Republicans’ 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 Republicans 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 Republicans 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 Republicans talk about “business” it is really a euphemism for catering to a select few big businesses that donate heavily to the GOP 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 GOP 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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15 Replies to “Democratic Presidents Bring It: Obama Shatters Clinton’s Record For Private Sector Job Growth”

  1. As Bush took over and started favoring the wealthy Eco.started down because wealthy dont spend their income on the local markets buy boats off shore vac schools which middle class have to borrow to send kids

  2. One of our customers claims quite firmly that “Democrats are incapable of running any type of successful business and completely ruin the business world when they are in political power” This from a woman who’s business running a at one time a very successful biker bar in the Hocking Hills has lost over half her income from changes she made after her husband died. But then she IS a Conservative Pagan Wiccan who hates blacks, Hispanics etc.etc. When I explained that her prejudices are totally opposite of what the Wiccan religion are about she had no response, and she never has given a response.

  3. Great news and I hope along with the ACA democrats will run on their record of doing good for the country. Now for my happy dance

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  4. We Democrats know that is true, but to try and get a Republican, any Republican, to look at the facts would be an exercise in futility. Republican voters don’t know, and I think don’t care, they are ideologically driven and anything contrary to their worldview is summarily dismissed as hogwash.

    I truly believe that many more Americans are progressive, but we have to get them to the polls on election day. If the current state of this union is not enough to motivate people to vote, I don’t know what it will take.

  5. stock market all time high, job growth among the best of all time; troops home Osama bin laden gone,foreign policy is don’t screw up, millions with healthcare they couldn’t get before and at a lower price . all this despite congressional blocks all along the way. What a terrible terrible president ;

  6. Bush On Jobs: The Worst Track Record On Record
    (and this from Murdoch’s Wall Street Journal, too!)

    His job-creation record won’t look much better. The Bush administration created about three million jobs (net) over its eight years, a fraction of the 23 million jobs created under President Bill Clinton‘s administration and only slightly better than President George H.W. Bush did in his four years in office.http://blogs.wsj.com/economics/2009/01/09/bush-on-jobs-the-worst-track-record-on-record/

    Can you imagine where we’d be had Republicans not taken the stance to punish the American people for electing Democrats and a Black man as president?

    So yes. Democratic presidents know how to bring it. Republican presidents talk the talk but can’t walk the walk. So if you can survive on hot-air, continue to vote for Republicans. I’d rather have steak sizzling in the pan.

  7. all jobs are not created equal.

    we need a better way of determining economic recovery, because 4 part time minimum wage jobs at wal mart or mcdonalds do not equal a $20 an hour full time job that was lost. yet, by only counting the jobs, it looks like a net gain of 3 jobs.

    how about we factor in the estimated annual wages of all jobs created or lost, and use that to determine whether or not we’ve made progress.

  8. How about you try to make some sense instead of mitigating the damage trickle down economics have destroyed this country

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