I’ve known for some time that the number of jobs created while George W. Bush was in office would rank among the lowest since WWII. The Labor Department released numbers recently that confirmed that view and solidified Bush’s domestic legacy. During George W. Bush’s terms in office, the fewest jobs in post-war American history were created. During those terms:
3.0 millions jobs were created.
The population grew by 22.0 million people.
3.0 million jobs = 2.3% payroll expansion.
22.0 million people = 7.7% population growth.
Thus, job creation did not keep up with population growth.
There were only 2 Presidencies when fewer jobs were created than during the past eight years. Unfortunately for the modern American worker, those Presidencies lasted 2.5 years and 4 years, not the 8 that Bush was in office. This is most evident when the number of jobs created per year is compared between Presidencies. Only 375,000 jobs were created, on average, per year during Bush’s terms. That’s 60,000 fewer per year than Dwight Eisenhower’s terms.
In short, it’s a terrible track record. It’s a terrible track record for the American worker who has been under assault since St. Ronnie’s Revolution begain in the 1980’s. For those of you who are more visual, like me, go look at the graph in this diary.