Obama’s Winning Streak Continues: Economy Adds 12.8 Million Jobs Over 64 Straight Months

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And they called him a lame duck. President Obama’s economy has added 12.8 million private sector jobs over 64 straight months of job growth, extending the longest streak on record.

Thursday’s job announcement numbers put another feather in the cap of the President’s legacy, as he has now presided over 64 straight months of private sector job growth. Yes, that’s right. The Department of Labor announced that the economy added 223,000 jobs, and the unemployment rate dropped to 5.3 percent:

Total nonfarm payroll employment increased by 223,000 in June, and the unemployment rate declined to 5.3 percent, the U.S.Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, retail trade, financial activities, and in transportation and warehousing.

Insert right wing screams here as business leaders are telling Republicans that they don’t know what they are doing, after they failed to renew the Export-Import Bank’s charter.

From the administration’s Council of Economic Advisers:

The private sector has added 12.8 million jobs over 64 straight months of job growth, extending the longest streak on record. Today we learned that total nonfarm employment rose by 223,000 in June—and all those jobs came from the private sector. Although total job growth was revised down somewhat in April and May, much of the revision is attributable to lower government employment than previously estimated. On the whole, our economy has added 2.9 million new jobs over the past twelve months, near the fifteen-year high achieved in February.

Of course, as President Obama keeps saying, all is not well. Not only have we had major cuts in the public sector, thanks in large part to Republican cuts and their sequester, but Americans need more good paying jobs. Additionally, the labor force grew more slowly in June than it usually does. “Over the past sixty years, the labor force has grown by 1.8 percent in June on average before seasonal adjustment—more than three times faster than May, the next fastest month. But this June, the labor force only rose 0.4 percent.”

Betsey Stevenson, a member of the Council of Economic Advisers, said in a statement “Our economy has now added 5.6 million jobs over the past two years, the strongest two-year job growth since 2000.” But she cautioned, “But despite this progress, there is more work to do. We must continue to build on the positive trends underlying our economy by ensuring that Americans working overtime receive a fair day’s pay, opening new markets for U.S. goods and services through expanded trade, increasing investments in infrastructure, providing relief from the sequester, and raising the minimum wage.”

(Note the administration keeps pushing that trade deal among their other pushes of raising the minimum wage and paying fair overtime wages.)

Democratic Leader Nancy Pelosi couldn’t help but contrast the longest stretch of private sector job growth with the Republican shutdown of the Export-Import Bank’s charter, “June’s job’s report shows our economy continuing to move in the right direction, extending the longest uninterrupted stretch of private sector job creation in our history. Yet again and again, the shutdowns and manufactured crises of the Republican Congress have put this progress at risk, costing our country jobs, weakening our economy, and undermining hard-working families.”

And noting that construction jobs are low for this month, it’s a good time to bring up the Republican failure to do anything with infrastructure like the long-term Highway and Transit Trust Fund bill.

“Earlier this week, Republicans forced the expiration of the Export-Import Bank’s charter, endangering thousands of export-reliant jobs and small businesses across America. House Republicans still have no plan for the long-term Highway and Transit Trust Fund bill needed to avert the crisis they punted to the end of this month — inaction that threatens hundreds of thousands of good paying construction jobs and critical infrastructure projects.”

Pelosi nailed the prevailing mood of the country in her last paragraph, saying in part, “Hard-working families deserve better than a Congress that shows so little interest in their jobs, their wages and their communities.”

Republicans and pundits have been clinging to the fact that employment numbers are adjusted over time and that is true. For example, the Department of Labor notes, “With these revisions, employment gains in April and May combined were 60,000 lower than previously reported. Over the past 3 months, job gains have averaged 221,000 per month.”

But 221,000 job gains per month is the Republican idea of bad news? We’ll take it. Also, before Republicans get too smug, let us not forget why those numbers were revised down — lower government employment than previously estimated. That would be the Republican contribution to the jobs numbers. They lowered them. Maybe we should be talking about that.

There is a 64 month streak of gaining private sector jobs and that hasn’t changed even after the numbers are revised. I think it’s safe to stop trolling the facts and start asking Congress why they haven’t done a thing to help Americans get better paying jobs.

President Obama is on a streak of legacy making wins, from the Supreme Court’s ruling that Obamacare is Constitutional to opening an embassy in Cuba to the new job numbers, it’s been a good few weeks for the President’s record.

26 Replies to “Obama’s Winning Streak Continues: Economy Adds 12.8 Million Jobs Over 64 Straight Months”

  1. First- the Cons will claim it’s all numbers- (they don’t mean what they obviously say).
    Then- they will denounce it as “Liberal Media”.
    Continuing- Pox will spin it into a bad thing.

    And eventually- the Republicans will claim it’s all because of their policies- not that Big Black Bad Guy in the White House.

    And of course Pox will be there- trumpeting whatever the Rethuglican Party tells them to…

  2. Why have I not heard of this labor participation rate before Obama was president?

    There seems to be this need to dig inside the numbers to find bad news. I heard a commentator on television say “There’s something in this report for everyone” and like clockwork every republican out there, and some media today are looking past the 220 plus thousand jobs created and focusing on the “bad news”.

    Next month when the unemployment rate ticks up we will be told more Americans are encouraged to look and find work but the focus will be on the rise in the rate – just like last month. Gotta give everyone a talking point.

  3. Once again, who can deny that President Obama has become an American President who has accomplished monumental changes in this country and abroad. So, with that said, the historians and historical records of achievement will forever be in our Libraries (Library of Congress), and Libraries in general. History books will be full, and justifiably recording every-bit of the Republican’s relationship with and against this President. And will note that many of his opposition came from those that did so solely because he was African-American (Bi-racial at that) every move that the Republicans made against him will be tinged with that smell. The man is scandal free, yet Republicans tried their evil best to find and pin something on him. To no avail. That alone gives Obama a selective place in our hall of Presidents. He can hold his head high, when he is done. Not much can be said about the Congress that made his life difficult while Presiding

  4. who can deny that President Obama has become an American President who has accomplished monumental changes in this country and abroad.

    The same folks who have been having a 24/7 temper tantrum ever since he got elected- That’s Who!

  5. Perfect Timing for the New Overtime Rule

    The June jobs report (223,000 jobs added and unemployment rate down to 5.3%) extends the longest period of private sector job growth in our country’s history.

    But there are two things that are causing concern. First of all, the labor force participation rate (LFPR) dropped 0.3 percentage points to 62.6%. As I’ve written before, it is important to keep in mind that there are several factors that affect this number:

    1. The increasing number of baby boomers who are retiring
    2. The increasing number of high school graduates who are going directly to college
    3. The number of people who find it difficult to get a job because of a criminal record
    Read More
    http://immasmartypants.blogspot.com/2015/07/perfect-timing-for-new-overtime-rule.html

  6. Beginning in 2011 those born in 1946 began retiring at 10,000 a month, this began under Obama and he is the first to have this happen.

  7. Why the unemployment rate is important to the people! The lower the unemployment rate, the sooner The Federal Reserve will increase the interest rates. If the Fed raises interest rates prematurely, it will be preventing most workers from sharing in the gains of economic growth. Instead of real wage gains, workers are likely to see their wages continue to stagnate, as they have done since the recession.
    Alternate unemployment data. http://www.shadowstats.com/alternate_data/unemployment-charts
    The Federal Reserve and increasing Interest rates. http://org2.salsalabs.com/dia/track.jsp?v=2&c=IBa6pD%2FYPEl59KGkzFS5V0MiJRRKdS1P
    WHAT RECOVERY? http://whatrecovery.org/ — Fed Up–a coalition organized by Center for Popular Democracy and Action for the Common Good–rallied outside the Federal Reserve Bank of New York on Tuesday to urge the nation’s central bank to keep interest rates low until the economy recovers.

  8. With all the wins he has gained in the past week, I think the President shouldn’t come in with ‘Hail to the Chief’…

    Instead… It should be ‘All I Do Is Win!’

  9. Hillary Clinton is our best chance to further the wonderful accomplishments of President Obama. I shudder to think what will happen if a Republican gets elected.

  10. President Obama would have had a higher success rate had the old white men in Washington respected him as the leader of the free nation. No can do!
    Drive on POTUS. They can’t take that title away.

  11. Thanks Moon, but I found the one you put up yesterday, and this new one is not it.

    Here’s the link you put up yesterday
    http://www.politico.com/magazine/story/2015/06/vladimir-putin-texas-secession-119288.html#.VZWT3vlVhBf

    From that story I found this one from the New York Times. I tried to post this about 10 minutes ago and I got bounced when I hit “post comment”.
    Anyway, here it is (fingers crossed).
    http://www.nytimes.com/2015/06/07/magazine/the-agency.html?_r=2

  12. A president Biden would actually be better, but yes, a President H.Clinton would definitely further build on President Obama’s successful trajectory for this country…that is, if there isn’t a spoiler.

  13. As more and more people drop out of even looking for a job, eventually the unemployment rate will be 0.0. The job participation rate is at its lowest level in 42 years. Unemployment is people, not numbers. But you guys go on heralding the worst recovery following a recession or depression in the nation’s history.

  14. And exactly what has the GOP led House (since 2010) & Senate (since 2014) done to remedy the situation other than complain and blame it all on President Obama?

  15. There’s lies, damn lies, and then there’s statistics!

    What your article did not discuss is:

    1. What is the average salary of the jobs?

    2. Are the jobs full-time or part-time?

    3. Are these service jobs or professional jobs?

    3.1 What sectors or industries had the smallest growth?

    3.2 How many jobs were filled by H1-B visa’s or off-shore workers?

    3.3 What sectors had the largest growth?

    4. What is the average pay based upon inflationary spending?

    Creating jobs for the sake of adding jobs does not tell the full story. It is a shell-game at best. If you go look at that same Dept of Labor and statistics report, you would be shocked to find that most of these jobs are low-skilled, service sector part-time jobs (starbucks, ect). Do you know anybody that can support a wife and kid by working at starbucks?

    Also, I would challenge the unemployment rate, which is much, much higher than 5.3%. This only includes those who are on unemployment, not those w…

  16. Go away troll . Over 63 months of job growth. Created twice as many jobs as Bush. In other words you racist dumbass..Democrats saved the economy. Republicans tried to kill it. Douglas Holtz-Eakin, a former CBO director who later served as an economic adviser to John McCain in 2008, agreed with his successor. “The argument that the stimulus had zero impact and we shouldn’t have done it is intellectually dishonest or wrong,” he explained in August 2011. “If you throw a trillion dollars at the economy it has an impact, and we needed to do something.” (That “something”, by the way, was over 40 percent tax cuts, making the Obama stimulus the largest two-year tax cut in American history.) Mark Zandi, also an adviser to McCain’s 2008 campaign, was adamant on the positive role of the stimulus. Federal intervention, he and Princeton economist Alan Blinder argued in August 2010, literally saved the United States from a second Great Depression. In “How the Great Recession Was Brought to an End,” Blinder and Zandi’s models confirmed the impact of the Obama recovery program and concluded that “laissez faire was not an option.”

  17. Where was your skepticism during the Bu$h years? When good or even poor paying jobs were being hemorrhaged?

    You may quibble about the quality of said jobs in the here and now- but I find it interesting to note- you don’t have to worry about it. Obviously you have a source of income. And I would imagine that brown nosing Republicans pays well too.

    A Recession is when you lose your job.
    A Depression is when I lose my job.

    It’d be a nice change of pace if you ‘skeptics’ just for once, tried giving some Credit to Obama.

    Oh who am I kidding. You Conservatives are congenitally incapable of such.

  18. Even this so-called ‘worst’ recovery is a damned sight better than economy under Bu$h- when it was bleeding jobs like a stuck pig.

    Get bent.

  19. Those are great questions, Edward. I’d also like to know what the current labor force participation rate is as well. The only reason unemployment is cited at 5.3% is because of the number of people not looking for jobs who aren’t counted.

    Another misunderstood and never reported factor of job acquisition in the age of the under 30 hour a week job is that one person who gets two part-time jobs is counted twice. So even though x number of positions may have been filled, a large number of those have been filled by the same person.

    Finally, there’s the question of black unemployment being higher than it’s ever been under Obama. Nearly none of those supposed 12.8 million jobs have gone to help his primary constituency.

  20. His primary constituency are the American people. But I will play your dog whistle attempt at who the fuk knows
    The meme says that “during Obama’s first five years as president, black unemployment increased 42 percent. During Reagan’s presidency, black unemployment dropped 20 percent.”

    This claim is problematic on several levels. It presents a time frame cherry-picked to boost Reagan’s record. It flat-out misrepresents the statistics during Obama’s first five years, when black unemployment actually fell. And it ignores several other measures that show that black unemployment was better in absolute terms under Obama than Reagan. We rate the claim Pants on Fire.
    http://www.politifact.com/truth-o-meter/statements/2015/may/22/facebook-posts/was-ronald-reagans-record-black-unemployment-bette/

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