Obama Has Led The Nation’s Unemployment Rate Back To Full Recovery From Bush’s Recession

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The July jobs report contained a major victory for President Obama. Statistically speaking the nation’s unemployment rate has fully recovered from George W. Bush’s Great Recession.

Jason Furman, Chairman of the Council of Economic Advisers, said in a statement:

With today’s report, the headline unemployment rate (on an unrounded basis) moved below its pre-recession average for the first time in the recovery. While this milestone is a testament to the strength of the labor market recovery so far, several alternative measures of labor market strength have not fully recovered, and some level of slack remains. For example, the long-term unemployment rate is 34 percent above its pre-recession average. The slower recovery in the long-term unemployment rate is offset by the short-term unemployment rate, which is now below its pre-recession average. More noticeably, the U-6 “underemployment rate”—a broader measure than headline unemployment that includes discouraged workers and those employed part time while preferring to work full time—remains 14 percent above its pre-recession average. The female and Hispanic populations’ unemployment rates are not yet fully recovered, but unemployment rates for male, black, white, and Asian American workers are now below their pre-recession averages.

As Furman noted, the long-term unemployment rate is still higher than pre-recession levels, and remains above the pre-recession average for Hispanic and female workers. This means that there is still work to be done on the jobs front. The next president could send the economy into overdrive if he/she could address the plight of the long-term unemployed. President Obama has made numerous attempts over the last few years to tackle long-term unemployment with proposals that have ranged from job retraining programs to employer incentives for hiring the long-term unemployed, but Republicans in Congress refuse to seriously discuss the issue.

Congressional Republicans would rather dedicate their resources to pointless Benghazi and Hillary Clinton email investigations than take action for the nation’s workers who still have not recovered from the recession.

The good news is that the economic recovery is sustaining itself, and under President Obama businesses have created 200,000 or more jobs in 15 of the last 17 months. More private sector jobs have been created over the last two years than at any period since 1997-1999. Overall, the private sector has added 13 million jobs over 65 straight months of growth.

The failed trickle-down policies being championed by the Republican presidential candidates can’t touch what President Obama has accomplished. Obama is proving once again that if voters want jobs and a booming economy, the need a Democratic president in the White House.

37 Replies to “Obama Has Led The Nation’s Unemployment Rate Back To Full Recovery From Bush’s Recession”

  1. Even if Republicans acknowledge this- they will bitch that it took him far too long to do it.

    walk on water/ couldn’t swim.

    But I do know- if we’d gotten another Republican, we’d have been even worse off!

    Thank You President Obama!

  2. Notice the economy got little mention in last nights debate?

    I expect the rate to be closer to four around election time. Will be interesting how the GOP / MSM will go about trying to convince everyone we need to change directions.

  3. What a surprise!

    A Democratic President usually have to come along and pick up shit left behind by a Republican.

  4. Criminal: Even though the unemployment claims are down it does not include the millions of people that no longer receive unemployment benefits and can’t find a sustainable job. Even though the stock market is highest ever, it doesn’t show that 222 million people are near or at poverty levels. Since 2008 children living in poverty increased from 18% to 22%. New job creations are slave wages jobs. We have lost over a million of small businesses entrepreneur growth over the last 10 years. This is a direct result of Government inaction. Even if Congress won’t act, President Obama should. If the Fed can rain trillions on the banks, please tell me why they can’t rain money on the people? If President Obama can erase all student debt because the money is owed to the government, why doesn’t he? If President Obama can make the Treasury Secretary make a coin valued at $1,000 monthly per every man, women and child, why doesn’t he?
    http://daviddegraw.org/peak-inequality-the-01-and-

  5. And where, pray tell, is he going to get the money to cover all of that?

    Oh yeah- Congress. They’re practically falling over themselves to help him…

    out the door.

  6. Yes, these facts were very absent during the debate last night. Lies by the candidates were out in full force. Interesting that Fox News only ganged up on Trump and called out his lies. Do you think they want to pick the nominee?

  7. Ronda,

    Despite what you and Rush Limbaugh think, President Obama is not “Barack The Magic Negro”.

    Imagine what he could have accomplished if it hadn’t been for the Republicans who, instead of helping President Obama and working with him, they decided on day one of his presidency to organize a coup against him and his administration.

    The American people who let the Republicans run amok without demanding an end to their hatred and dangerous rhetoric and constant obstruction is also seriously to blame as well.

  8. I listened to a live blog. I wouldn’t turn on fox news if my life depended on it. I will never contribute to their ratings, ever.

    That said, I felt embarrassed, not humored this is what politics in this nation has come to. Facts just don’t matter anymore. The unchallenged lies the republicans throw out daily and is taken as fair debate points is sickening.

    Sorry, end of rant.

  9. Yeah let’s vote in one of those Republican losers so they can trash the economy, enrich their fellow plutocrats, and start more wars in the Middle East. Because that worked out SO well the first time.

  10. It is not only the GOPer lies but the flip flopping on position after position as well that should tell most people they do NOT know how to drive the country anywhere but off a cliff… again.

  11. With close to 94,000,000 people out of the work force, a 38 year low, how can anyone claim this economy as a success.

  12. I certainly noticed that, Tamburello. I think they did a get a few comments in there about the economy without specifically mentioning jobs. Somebody talked about “regulations” and all of this talk about tax rates… They always claim that (regressive) flat tax plans will somehow create jobs.

  13. I’m not sure about most of your numbers.

    What is your definition of “in or near poverty”? 222 million people live “at or near” poverty levels? In 2013, that’s two years ago in an economy that is adding about 2.5 million jobs a year, there were 50 million people living in poverty under the “supplemental” poverty measure. That was two years ago! We’re always at least a year behind with these numbers. You are claiming that there are 172 million MORE people living in or near poverty than were living in poverty TWO YEARS ago?

    About the people who can’t find a job? Now we have 8.4 million people who are officially unemployed, meaning they are looking for work. That number has not been below 5.5 million for the past twenty years. It’s down from 16 million in late 2009. The 8.4 million includes people who quit their jobs (843,000), people who are entering or re-entering the job market (3,300,000). It also includes high school and college kids looking for part-time work.

  14. The President cannot do many of the things you believe he should do. The Fed has limits under which it works, and it cannot “rain money down on people”. Neither can Obama. Obama cannot cancel student loan debt, no matter what you may have read somewhere. Obama cannot make these coins, despite what you may have read somewhere. He does not have that kind of authority. And minting coins, even $1000 coins, is no different than printing money. We do not have metal-backed currency in this country.

    You need better, more reliable sources of information.

  15. Considering what was going on in late 2008 and early 2009, the recovery is absolutely remarkable. I do know that many are still struggling and many, particularly older people who were put out to pasture in their 50’s and 60’s, will never make back their assets and their incomes.

    But this was a BRUTAL recession, and Obama did not have the kind of Congress behind him that FDR did when he took the reigns in 1933. Anybody who knows anyone who lived through the Depression knows that time was much worse than this.. Because the Repubs had 3-4 years to mess things up before FDR took office. We were able to vote Obama and the Dems into power early on in the mess.

    Still, if Obama and the Dems had Repubs working with them who actually cared about the American people, we’d be much farther along the path to recovery by now.

    Here’s where we are now in jobs under Obama:
    http://mollysmiddleamerica.blogspot.com/2015/08/how-many-jobs-has-obama-created-or-lost.html

  16. Considering what was going on in late 2008 and early 2009, the recovery is absolutely remarkable. I do know that many are still struggling and many, particularly older people who were put out to pasture in their 50’s and 60’s, will never make back their assets and their incomes.

    But this was a BRUTAL recession, and Obama did not have the kind of Congress behind him that FDR did when he took the reigns in 1933. Anybody who knows anyone who lived through the Depression knows that time was much worse than this.. Because the Repubs had 3-4 years to mess things up before FDR took office. We were able to vote Obama and the Dems into power early on in the mess.

    Still, if Obama and the Dems had Repubs working with them who actually cared about the American people, we’d be much farther along the path to recovery by now.

    Here’s where we are now in jobs under Obama:

    http://mollysmiddleamerica.blogspot.com/2015/08/how-many-jobs-has-obama-created-or-lost.html

  17. Don’t any of you people read the entire economic news? If you only look at the Participation Rate, or those receiving welfare and food stamps, part time vs full time, and you would know that many Americans are still unemployed or under employed.
    The numbers are not great and are barely decent. Just take a walk or ride around your city or county and you’ll see the truth.
    God Bless the USA!

  18. Do you not remember that the unemployment number was around 11% then? Also, When has it ever been a lot lower than it is now. Considering what has gone on in the House and Senate, the numbers are Amazing? If the House was anywhere interested in the citizens of this country, they could have been 2%. But they stalled and spent billions on Benghazi and 55 repeals of ACA. The wast of money by the House is UNPRESIDENTED.

  19. I took your advice and looked around my neighborhood.

    Lots of help wanted signs.

    Why is it that you Conservatives only like to point out unemployment numbers when there is a Democrat in the White House?

    The local unemployment situation has IMPROVED under Obama.

    Suck it Brian.

  20. What you conveniently left out of that number: Retirees, too-young-to-work, hospitalized, and incarcerated.

    Even the remainder is still an improvement. An improvement your False Witness refuses to accept.

  21. 94 million out of 300 million, that is one third, I don’t think so. Read the article before this one on conservatives inability to think critically and you might learn something about yourself. Not that it will help, but at least you’ll know.

  22. Actually, if unemployment were to go under 4 to 5%, we would have too much inflation. For economists, 4 to 5% is full employment.

  23. O/T but I have no where else to put it.
    Fears of Lasting Rift as Obama Battles Pro-Israel Group on Iran

    WASHINGTON — President Obama had a tough message for the American Israel Public Affairs Committee, or Aipac, the powerful pro-Israel group that is furiously campaigning against the Iran nuclear accord, when he met with two of its leaders at the White House this week. The president accused Aipac of spending millions of dollars in advertising against the deal and spreading false claims about it, people in the meeting recalled.
    Read More
    http://www.nytimes.com/2015/08/08/world/middleeast/fears-of-lasting-rift-as-obama-battles-pro-israel-group-on-iran.html?hpw&rref=world&action=click&pgtype=Homepage&module=well-region%C2%AEion=bottom-well&WT.nav=bottom-well&_r=0

  24. Economics.

    They demand a certain % of population remain unemployed to ‘protect’ against inflation for the rest of us.

    Then they turn around and whine about the high unemployment.

    Conservatives- having and eating their cake since forever.

  25. The Center on Budget and Policy Priorities has an update on how Medicaid expansion has been working out for states. We’ve seen plenty of reports about how states aren’t only able to cover more of their uninsured, but how they’re saving money by not having to spend it on other programs. That’s confirmed, again by CBPP.

    Kentucky, for example, has saved $109 million and Washington has saved $465 million through June, according to a recent report from the State Health Reform Assistance Network. By the end of 2015, Colorado expects its expansion to save $308 million while Oregon projects $275 million in savings.
    http://www.cbpp.org/blog/higher-medicaid-expansion-enrollment-means-not-only-greater-coverage-but-also-state-savings

  26. The Iran Deal is a much needed agreement. Sad Day when Schuma chose to be an Israely citizen than an American Congress man.I hope you all well remember his action siding with Bide after what America did for him. Shame on you Chuck,Shame on You.

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