Further to our data sets looking at U.S. macroeconomic performance in the past two presidential administrations, here is a chart showing public (not private) sector payroll jobs under several presidential administrations. What is so striking is the fact that only Obama has reduced the number of payroll jobs at the Federal government, with Reagan, Clinton, and Bush 43 expanding the …
Private sector nonfarm payroll growth under Obama
The data is being finalized and we can now compare job growth under the Obama administration with other American presidencies. Not captured here is the changing nature of work, the Uber-ization of labor, and the fewer jobs featuring health insurance benefits. But there has been clear recovery in the workforce since the crash of 2008.
US unemployment rate during the Obama administration
The US unemployment rate under Obama started out at 9.5% as the banks collapsed and ends now at 4.6% according to the Bureau of Labor Statistics. These stats – as BLS professionals will tell you – are slow to acknowledge the new forms of work and benefits and other key factors. Still they provide a rough view of a positive …
Unemployed men without college at record levels in the United States
This trend in unemployed men between the age of 19 and 30 is a critical sign of change. Social and economic trends all over are being driven by this shift. Job growth in the United States has been very strong since the Great Recession. Still, this must be seen as a transformation more than simply a linear recovery. Despite record …
Long term unemployed never returned to normal after the Crash
On Friday we showed the steady job growth in the United States since the Crash and the “Recovery.” But we use “recovery” in quotes for a reason. When you look at the rates of long term unemployed as a percentage of total unemployed in the United States, it becomes more difficult to believe in some sort of return to “normal.” …