Bush On Jobs: The Worst Track Record On Record<quoted text>
According to the USA Bureau of Labor Statistics Household Survey, from which the unemployment rate is computed:
Employment Jan 2001: 135,999,000
Employment Jan 2009: 142,099,000
That would make it 6,100,000 job created.
President George W. Bush entered office in 2001 just as a recession was starting, and is preparing to leave in the middle of a long one. That’s almost 22 months of recession during his 96 months in office.
His job-creation record won’t look much better. The Bush administration created about three million jobs (net) over its eight years, a fraction of the 23 million jobs created under President Bill Clinton‘s administration and only slightly better than President George H.W. Bush did in his four years in office.
Said the Journal:
"The Bush administration created about three million jobs (net) over its eight years, a fraction of the 23 million jobs created under President Bill Clinton’s administration and only slightly better than President George H.W. Bush did in his four years in office."
We wanted to look at those numbers ourselves, so we turned to the Department of Labor’s Bureau of Labor Statistics, or BLS. Getting guidance on the data from BLS and using Excel spreadsheets, we discovered not only that Brown and the Democrats have been wrong, but also why.
It was a matter of timing.
BLS had only preliminary data on Bush’s final performance at the close of his second term, when the Wall Street Journal was doing its story. BLS subsequently updated the data. It turned out that things were way worse than the preliminary numbers showed.
We shared this assessment with the Journal reporter, who agreed. It’s not a matter of whose numbers were better. It’s a matter of what was known and when.
You, too, can do the math. The jobs numbers are based on a monthly survey of employers for the 12th of each month, but the initial reports are revised as more employers complete their survey over the following couple of months. A fuller census of employment and wages is conducted quarterly and is considered more accurate, so BLS eventually adjusts the monthly numbers to reflect that accuracy.