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

Discussion in 'Budget & Taxes' started by Iriemon, Jun 13, 2012.

  1. Iriemon

    Iriemon Well-Known Member Past Donor

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    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
     
  2. unrealist42

    unrealist42 New Member

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    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.
     
  3. Iriemon

    Iriemon Well-Known Member Past Donor

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    Again I am amazed that this milestone passed and barely a peep about it in the media.
     
  4. unrealist42

    unrealist42 New Member

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    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.
     
  5. Reiver

    Reiver Well-Known Member

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    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
     
  6. unrealist42

    unrealist42 New Member

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    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.
     
  7. Reiver

    Reiver Well-Known Member

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    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.
     
  8. gamewell45

    gamewell45 Well-Known Member Past Donor

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    I wonder if Fox News Channel will report this?
     
  9. Reiver

    Reiver Well-Known Member

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    They should. It can be used by right wingers quite happily
     
  10. unrealist42

    unrealist42 New Member

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    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.
     
  11. Reiver

    Reiver Well-Known Member

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    Economics would refer to the inefficiency of slavery. You still haven't managed to counter the hypothetical argument (hypothetical only because right wingers tend to shy away from economic analysis): we have evidence consistent with the crowding out hypothesis
     
  12. Iriemon

    Iriemon Well-Known Member Past Donor

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    You are making the dubious assumption that right wingers are more interested in positive economic results than their prospects in the upcoming elections.
     
  13. Reiver

    Reiver Well-Known Member

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    I'm not making any assumption. I'm just referring to the data and how it can be used to fit right wing dogma. There's no point in playing pretend; instead one has to look for characteristics in the labour market that would lead to rejection of the standard crowding out argument
     
  14. Iriemon

    Iriemon Well-Known Member Past Donor

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    Right wing dogma is to get Obama out of office. The most effective way to do that is to talk down, if not outright sabotage, the economy.
     
  15. Reiver

    Reiver Well-Known Member

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    I'm not interested in the party politics. This is about the economics. The thread's topic can be used in support of standard right wing theory. Neither of you have managed to dispute that
     
  16. Iriemon

    Iriemon Well-Known Member Past Donor

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    Your use of the word "right wingers" in response to a post about Fox News implied to me you were referring to right wingers in the political sense of the word.
     
  17. Reiver

    Reiver Well-Known Member

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    I referred to an economic analysis of the Fox News. Party politics is tedious stuff. Can you actually discount the crowding out understanding of the labour data or not?
     
  18. Gator

    Gator New Member

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    Only if the world is static, which it is not. To keep up with the population requires around 125,000 - 150,000 jobs created per month.

    Obama claims 4.2 million jobs in 27 months, between 3.4 and 4.1 million of those are just to stay even with the population. Obama is just treading water. Almost none of the lost jobs have been recovered.

    Thats being generous and ignoring 2009 even though the obama stimulus was signed in February 2009. Some of the 2009 job losses should fall onto obama making the stats even worse.
     
  19. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    Unemployment.

    Obama took office Jan 2009.

    [​IMG]
     
  20. gingern42

    gingern42 Banned

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    4.2 million jobs, 4 trillion in spending. By my math that's (*)(*)(*)(*) near 1mil per job. Great. Better be some (*)(*)(*)(*)ed good jobs.
     
  21. Reiver

    Reiver Well-Known Member

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    Nope! You'd have to compare with the hypothetical employment level that would have occurred without stimulus
     
  22. Iriemon

    Iriemon Well-Known Member Past Donor

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    So that is the way you do it, eh? Fascinating.

    So tell us, under your "dynamic" method of computing employment, how many millions of jobs were lost during the last 8 years the Republicans controlled the Administration?
     
  23. dixon76710

    dixon76710 Well-Known Member

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    Hmm? You would think that after 3 1/2 years of all this job creation Obama keeps talking about under his administration, there would be MORE jobs.
     
  24. dixon76710

    dixon76710 Well-Known Member

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    \

    Federal government employment has only gone up
     
  25. Iriemon

    Iriemon Well-Known Member Past Donor

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    There are MORE jobs. 4.2 million more than in Jan 2009.
     

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