I just saw a tweet by Dan Diamond from politico that was retweeted by Nick Hanauer bragging about how under Obama, private sector employment has grown by 11.5 million jobs and under Bush it shrank by 300K jobs. Of course, what the partisan hacks ignore is the other side of the ledger, just like they always do.
Is adding 11 million jobs good or bad? It depends on the workforce denominator of course, which they never mention, so I will.
According to Fred, the 15-64 yr old "working population" grew from 180M in Jan 2001 to approx. 205M at present.
Thats 25 million more people in the working age population of which maybe 20 million need a job.
About 8.5 million during the Obama years and 16.5 million during the Bush years. or a net change in the the jobs\working age population ratio of -17 million under Bush and +3 million under Obama.
Why would this be something to brag about for Dems and Obama then? Why arent people out on the streets protesting that our so-called exceptional American economy has somehow managed to destroy the jobs to worker population ratio by some 14 million units in 15 years? We've fallen behind at the rate of almost 1 million jobs per year and yet twitter is agog with ignorant Dem hacks congratulating Obama that the jobs number went up by 153K in December when you need a minimum of 80k new jobs per month just to keep up with population growth. Even at 180K new jobs per month (100K net jobs\population increase), it will take 9 more years to get back to even relative to our jobs\population situation in the year 2000. Thats a quarter century lost by our so-called economic and political elites. Is it any wonder that the hoi-polli is starting to get pissed?