More Bad News For Republicans As President Obama Sets A New Job Growth Record

obama accomplishments and legacy

Well, this is awkward for Republicans. The Obama economy has set yet another job growth record in the private sector.

The first of five key points Jason Furman, Chairman of the Council of Economic Advisers, made about the stats from the Bureau of Labor was that March makes the 61st straight month of job growth—“extending the longest streak on record”.

Upon the March job numbers being released by the Bureau of Labor, Furman issued a statement in conjunction with making five key points, the first of which was that this is the 61 straight month of job growth, the longest streak on record:

The private sector has added 12.1 million jobs over 61 straight months of job growth, extending the longest streak on record. Today we learned that total nonfarm payroll employment rose by 126,000 in March, driven by a 129,000 increase in private-sector employment. This particular month’s job gains were below the recent trend, as job growth in a number of industries slowed somewhat (see point 5). Over the past twelve months, the private sector has added 3.1 million jobs, nearly the highest year-over-year growth in the recovery so far.

Here’s a graphic from Furman of the Obama surge:

Chart  via Jason Furman with stats from Bureau of Labor

All is not rosy, as job growth slowed beneath the recent trend, but it is still rocking a record streak — with hourly earnings continuing to rise, which is a critical point for working Americans.

Furman summed up the findings, “The March employment report reflects a pace of monthly job growth below the recent trend, coming on the heels of February’s strong report. The unemployment rate was stable, broader measures of unemployment fell, and hourly earnings continued their rise. A range of factors including the weather and the global economic slowdown have affected economic data for the first quarter. The President has been clear that he will continue to push for policies including investments in infrastructure and relief from the sequester that would help ensure the strong underlying longer-term trends persist.”

The other recent record holder for job growth was another Democrat, President Bill Clinton. These trends give you an indication as to why Republicans are trying to avoid domestic issues in the 2016 race. Adding insult to injury, these job gains are in the private sector- that sector Republicans pretend to be experts at, and keep promising that their trickle down theory is the master of.

Back in September of 2014, President Obama shattered President Clinton’s previous record of 51 consecutive months of private sector job growth. In September, I compared these two Democratic Presidents with Presidents Bush I and II, and even with President Reagan:

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.

Before Republicans spit out more of their Obamacare job killing talking points, someone might want to familiarize them with this 61 month streak of adding jobs under Obama. It’s a record, and it’s been a record for a while, so it’s something that’s hard to miss if you’re awake and operating within some realm of reality.

Other points of good news are that real aggregate weekly earnings have risen “nearly 5% over the last twelve months”. That’s purchasing power of wages and salaries for private sector employees. “Aggregate earnings are nearly 7 percent above their pre-crisis peak.”

In all of this good news, we’ve all been aware that people still needed to make better wages, that wages have stagnated and have not risen to keep pace with inflation. Indeed, as the top 2% get wealthier and wealthier, working Americans are working more for less. The Obama administration has been working hard to fix this, and has taken to going around Republican obstruction in Congress on this issue to work directly with mayors and governors around the country, and with private companies, to push for a raise to the minimum wage.

So it is more good news that hourly earnings have risen. But we still need better wages for working families.

Republican have done everything possible to kill any chance of an economic recovery from the Bush crash, so they can hardly take credit for private sector job growth under Obama. Republicans went so far as to shutdown the government and force it to operate under their slash and dash sequester, which negatively impacted public sector jobs and hurt real Americans. They have refused to pass Obama’s jobs bills.

Republicans have stood in the path trolling recovery at every turn, to no avail.

If you’re ready to read more from the unbossed and unbought Politicus team, sign up for our newsletter here!

36 Replies to “More Bad News For Republicans As President Obama Sets A New Job Growth Record”

  1. I have four words for what our economy and country needs ASAP, “an infrastructure jobs bill”. It’s too bad that Republicans have no interest in passing such legislation.

    Republications are only interested in repealing Obamacare, Benghazi, email accounts and undermining Pres. Obama’s foreign policies. They have no interest in doing anything that benefits poor and middle class.

  2. The trickle down theory:

    If you don’t have enough crumbs to live on just leave things to the GOP who will ensure they get more pies so you will have more crumbs.

    Glad to hear Obama’s efforts are at long last coming to fruition. Nothing’s perfect, but at least Obama’s policies brought things around instead of into the ground, Let the GOP keep bungling issues like climate change, economics & social change. Lately, all they seem to do is empower Obama & the Democrats while embarrassing themselves.

  3. Let’s be clear here: low unemployment is NOT beneficial to the Republican Party’s agenda and their wealthy donors.

    Low unemployment means, workers can pick and choose not to be discriminated against or be forced to work for slave wages. This takes power away from the greedy benefactors of the Republican Party’s true base who want Vietnam-level worker wages in this country.

    High unemployment is what the Republican Party wants for this country which forces American workers to take whatever greedy employers choose to pay.

    So if we want good-paying jobs, a middle class, and balanced State budgets – DON’T VOTE REPUBLICAN PARTY EVER!

  4. WHERE IS THE EFFORT BY THE GOP TO GET JOBS. HAVE WE HEARD ANYTHING ON THE 45 SO CALLED JOBS BILL THAT SUPPOSEDLY SAT ON REID DESK

    HMMM

  5. Not really bad news for the Reich Wing, they just spin it 180 and lie to their gullible voter base on the Goebbels Channel and they eat it up. And then when the backlash starts they just take full credit for any improvement and their gullible ignorant voter base believes them. Republicans and Conservatives have carte blanche to lie and cry to their people because their people are ignorant and gullible and bigoted. On the other hand we on the left expect honesty and true Patriotism from OUR elected legislators and they come through.

  6. Since the weather is part of the reason for the slower job growth, most economists predict the job-growth will regain some of it’s momentum.

  7. love it. the president has accomplished more in the 6-7 years in office than the two republican presidents before him.

  8. I see someone has been here and has indicated that s/he doesn’t like this article. It’s a d*mn shame that alleged adults can’t accept the truth. Whoever it is appears to be a successful graduate of the “GOP/TP School of Denial.”

  9. Instead of a 180, how about going a bit further & using the Alexis Neiers of E-Channel Pretty Girls notoriety & spinning things a full 360 degree? Sort of the same thing; takes you back where you started, lol.

    Alexis Neiers is a shining example of home schooling.

  10. lolol I wonder why you didn’t mention the OTHER record he just set – namely that for the first time, there are 93 MILLION Americans of working age that don’t have jobs.

    Lord knows the Democrats love ignorant voters. Even if these weren’t mostly part-time, low-paying jobs, 1) the number created was only HALF of what was forecast, and 2) it wasn’t enough to keep up with population growth. This isn’t “spin”, children, the numbers don’t lie. But there isn’t a single one of you with the guts or integrity to look it up for yourself.

  11. Hmmm, all this job growth yet the Middle Class is shrinking? Why is that?
    “Figures don’t lie. But liars figure.”

  12. Those job bills that Reid held from a vote probably ended up in the shredder so no one would be able to vote on them.

  13. What middle class? I am supposed to be and was middle class but because of Obama economics I am quickly becoming lower class.

  14. USA TODAY SAID;Employers added a subpar 126,000 jobs in March as the labor market cooled off. AND unemployment numbers from the feds: “Job gains for January and February were revised down by a total 69,000.” AND IN Breitbart THE REPORT IS:According to Friday’s Bureau of Labor Statics jobs data 93,175,000 Americans were not in the work force in March, an addition of 277,000 to February’s level of 92,898,000. The Breitbart post notes that March was the first month in the history of the U.S. where the number of people not in the U.S. labor force surpassed 93 million. I NOT SAYING WHOSE FAULT IT IS! BUT WE’RE STILL INTROUBLE. TELLING THE EMPIROR HE’S WEARING CLOTHES WHEN HE’S NOT ISN’T GOING TO HELP

  15. Sooo what does your ill-informed opinion about the brilliant Sarah Jones have to with politics? NOTHING.

    For God’s sake stop with the personal floggings. If ordinary human beings cannot disagree POLITELY and PASSIONATELY without being orcs and trolls, the world would be a helluva lot better place.

    You, Shannon – seriously, make a vow to do anything but this — learn about carbon farming,do some volunteer work – but don’t do the negative. For every dis in this world a little Hope dies.

    And NEVER say another bad word about Sarah — no, I’ve never met her, but I greatly respect the work she, Jason and the gang do. You might consider investigative journalism on Fox News. You do seem so passionate about calling out honest people trying to do a good job while you tar and feather them.

    Don’t mean to be mean, but this thing about sarah really got to me.

    hmmph.

  16. I would not worry about the slow numbers that came out last month because it was due to a frozen in America on one half and the other half was enduring the worst drought and hottest winter on record.
    The numbers will come back with a bounce that will make up for the numbers in spades.

  17. John Galt Hates Ben Bernanke
    Ah: I see that there was a Twitter exchange among Brad DeLong, James Pethokoukis, and others over why Republicans don’t acknowledge that Ben Bernanke helped the economy, and claim credit. Pethokoukis — who presumably gets to talk to quite a few Republicans from his perch at AEI — offers a fairly amazing explanation:

    B/c many view BB as enabling Obama’s spending and artificially propping up debt-heavy economy in need of Mellon-esque liquidation

    Yep: that dastardly Bernanke was preventing us from having a financial crisis, curse him
    Read More
    http://krugman.blogs.nytimes.com/2015/04/03/john-galt-hates-ben-bernanke/

    “in need of Mellon-esque liquidation” – just wow. I didn’t realize anyone still believed in that. From wikipedia:

    Mellon became unpopular with the onset of the Great Depression. He advised President Herbert Hoover to “liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate… it will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people,”…

  18. The fact the past year was the best year for private sector job growth since the late 1990’s with the republican forced austerity is remarkable. If we had an infrastructure or highway bill these jobs numbers would really get rocking up.

    I’m a wee bit concerned about the stronger dollar though and it’s effects on US exports seemingly slowing down the US manufacturing base, but retail sales look set to jump for March so it looks like the weather induced slowdown is abating.

  19. The Republicans have never let a little thing like facts get in their way before, they’re not likely to start now.

  20. Yet another thing that their block voters will know nothing about because their news sources won’t mention it.

  21. Perhaps you could enlighten us as to plans that the Republican majority in the House, Senate, & Supreme Court have for remedying this situation.

  22. You DO understand that the entire population of the United States (man, woman, and child) is only 318 Million, right? Think about it – 93 million working age adults is nearly 1/3 of our ENTIRE POPULATION. Your numbers don’t even make sense.

    Keep drinking the kool-aid.

  23. Andrew, I fundamentally agree with you. One month means nothing. And these numbers were taken as of the second week of the month.. The weather was still lousy and cold in many parts of the country. One month means nothing, and the revisions of January and February amounted to .03% of total jobs; nothing to be too concerned about. If the April and May numbers are also weak, then maybe we should be concerned.

  24. Second time I’ve tried to post this: I would bet that you have no idea who those 93 million people not in the labor force are. I’ll give you a clue: Since Obama took office, we’ve added about 200,000 people age 55+ to the civilian non-institutional population EACH MONTH. Meanwhile, the number of people NOT IN THE LABOR FORCE has increased by about 176,000 people each month since Obama was inaugurated. Hmm… Maybe people are RETIRING? And over half of that 93 million are people 55 and over who say that they DO NOT want a job.
    http://mollysmiddleamerica.blogspot.com/2015/01/93-million-people-not-in-labor-force.html

Leave a Reply

Your email address will not be published.