Thread: Milestone: More private sector jobs today than when Obama took office.

Another little nugget of data I earlier missed from the June BLS labor data.

In May 2012, for the first time, the number of people employed in the private sector is greater than when Obama took office.

Total Private Sector Jobs (seasonally adjusted)
Jan 2009 110.985 million.
May 2012 111.040 million.

Source: http://data.bls.gov/pdq/SurveyOutputServlet

That means that all the job losses during his term, that were netting out at about 700,000 jobs lost per month when Obama took office, have been recovered.

That includes about 4.2 million private sector jobs created since January 2010.

We have not fully recovered yet, but we are moving in the right direction.

I wouldn't expect the RW propaganda channels to report this, but amazing how there hasn't been a peep about this milestone in the lame stream media

The right is blaming the left for the lack of employment growth but there is plenty of employment growth in the private sector. Only the right's jihad against public workers is keeping the unemployment rate from falling.

Originally Posted by unrealist42

The right is blaming the left for the lack of employment growth but there is plenty of employment growth in the private sector. Only the right's jihad against public workers is keeping the unemployment rate from falling.

Again I am amazed that this milestone passed and barely a peep about it in the media.

Originally Posted by Iriemon

Again I am amazed that this milestone passed and barely a peep about it in the media.

One would think that this is a triumph for our friends on the right but apparently it is some sort of abject failure of the private sector to adhere to the party line by creating millions of jobs in the midst of a scorched earth campaign against hope and prosperity for the working class.

Originally Posted by unrealist42

One would think that this is a triumph for our friends on the right but apparently it is some sort of abject failure of the private sector to adhere to the party line by creating millions of jobs in the midst of a scorched earth campaign against hope and prosperity for the working class.

It would be easy to suggest that this is consistent with right wing economics: where the public sector crowds out private sector activity and, as the public sector is curtailed, there is a positive spillover for private sector opportunity

Originally Posted by Reiver

It would be easy to suggest that this is consistent with right wing economics: where the public sector crowds out private sector activity and, as the public sector is curtailed, there is a positive spillover for private sector opportunity

That might be a point they could crow about if there was not such a large surplus of the unemployed already at hand. But then again, it depends on considerations of full employment. If full employment is somewhere around a 10% unemployment rate then they may be correct but I have my doubts that such an assertion would sit well with the electorate, this being an election year.

Originally Posted by unrealist42

That might be a point they could crow about if there was not such a large surplus of the unemployed already at hand.

That isn't a good reply. They'd merely refer to extra-market interference and how it naturally creates unemployment. You haven't actually offered a counter.

Originally Posted by Iriemon

Again I am amazed that this milestone passed and barely a peep about it in the media.

I wonder if Fox News Channel will report this?

Originally Posted by gamewell45

I wonder if Fox News Channel will report this?

They should. It can be used by right wingers quite happily

Originally Posted by Reiver

That isn't a good reply. They'd merely refer to extra-market interference and how it naturally creates unemployment. You haven't actually offered a counter.

Extra-market interference has social goals. It has been argued that anti-slavery laws unfairly impede the private sector from fully employing all available labour. In a purely economic context this might make some sense but there is more to society than purely economic arguments since the outlawing of slavery appears to have universal approval.