Which President Obama Or Trump Has Created The Most Jobs At
Posted: Trump has created more jobs at this point in his first term than Obama in his Obama created more jobs at this point in his second term than Trump in his first and, The rate of post-recession job growth has been pretty consistent at around 200,000 per month ever since 2011 regardless of whos
How President Trump Measures Up On Jobs In 6 Charts
Last January, President Trump attended the World Economic Forum in Davos, Switzerland, and gave a speech previewing his pitch for reelection this fall. Speaking to the assembled crowd of global elites, Trump made the highly dubious claim that the economy he had inherited from President Obama was in a dismal state, despite the fact that the U.S. had produced 76 straight months of job growth when Trump was sworn in. And with signature bombast, the President played his, well, Trump card. The U.S., he boasted, was in the midst of an economic boom the likes of which the world has never seen before.
It was debatable assertion, given that economic growth had averaged a solid-but-not-scintillating 2.5% over Trumps first three years in office. But the stock market was hitting record highs, and unemployment was at a historic low of 3.6%. Campaigning on his economic expertise seemed like a no-brainer for Trump.
Then came COVID-19.
Just weeks after Trumps address in Davos, the novel coronavirus was declared to be a global pandemic. And while the U.S. scrambled to respond to a spiraling health crisis, the economy went into free fall. Some 22 million jobs were lost in the U.S. in March and April as businesses went into shutdown, and the unemployment rate spiked to 14.7%the worst since the Great Depression.
A version of this article appears in the of Fortune with the headline, How Trump measures up on jobs.
Jobs Created During Us Presidential Terms
Politicians and pundits frequently refer to the ability of the president of the United States to “create jobs” in the U.S. during his term in office.The numbers are most often seen during the election season or in regard to a President’s economic legacy. The numbers typically used and most frequently cited by economists are total nonfarm payroll employment numbers as collected by the Bureau of Labor Statistics on a monthly and annual basis. The BLS also provides numbers for private-sector non-farm employment and other subsets of the aggregate.
Among the Presidents from Jimmy Carter to Donald Trump, President Bill Clinton created the most jobs at 18.6 million, while Ronald Reagan had the largest cumulative percentage increase in jobs at 15.6%. This computation treats the base month as the December before the month of inauguration and last month as December of the final full year in office. Using the month after inauguration as the base month as shown in the accompanying diagram, the top four Presidents in terms of cumulative job creation percentage are Clinton , Reagan , Carter , and Obama .
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Joe Biden: Weve Created More Than 15 Million Jobs The Most In The First 100 Days Of Any President On Record
Since January, the US economy has added 1,572,000 jobs, according to the US Bureau of Labor Statistics.
And its true that this is the most jobs created in the first 100 days of any presidency since records began in 1939.
But this job growth comes from a low base point given that in April last year, unemployment hit its highest level since the Great Depression of the 1930s.
More than 22 million jobs were lost in the space of two months due to the impact of coronavirus.
In a tweet, President Biden heralded his first three months of job growth compared with Donald Trumps.
But in contrast to Mr Trumps first few months, President Biden has benefited from a sharp rebound in economic activity after the contraction caused by the pandemic.
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Obama Was A Better Jobs President Than Trump
Posted: Feb 18, 2020 · CNN: During Trumps first 36 months in office, the US economy has gained 6.6 million jobs. But during a comparable 36-month period at the end of Obamas tenure, employers added 8.1 million jobs, or 23% more than what has been added since Trump took office. FACT: Trump almost ruined the job-creation streak Obama created.
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Trumps Spotty Record On Manufacturing Jobs
Democratic presidential nominee Joe Biden is visiting swing-state manufacturing regions to bash President Trumps record on factory jobs. President Trump has broken just about every promise hes ever made to American workers and he has failed our economy and our country, Biden said in Warren, Mich., on Sept. 9. Voters will hear a lot more of that. Biden specifically points to a manufacturing recession in 2019, the increased offshoring of jobs under Trump, and a slower pace of job creation under Trump than under the last three years of the Obama administration.
While running for president in 2016, Trump promised to bring back manufacturing, which may have helped him win crucial Rust Belt states like Pennsylvania, Ohio, Michigan and Wisconsin. Did he bring it back? The answer could very well determine who wins those statesand the White Housein 2020.
Business shutdowns associated with the coronavirus recession have hammered manufacturing, like many other sectors. Manufacturers have lost 720,000 jobs since February, though employers have been slowly rehiring since May. But some voters may give Trump a pass on the coronavirus and try to assess his record on manufacturing during the first three years of his presidency, before the virus upended things.
Who Created More Jobs Obama Or Trump
Posted: Trump Has Created 1.5 Million Fewer Jobs Than Obama Posted: Sep 20, 2019 · Over 31 months Obama added 1.5 million more jobs than Trump Trump entered office on January 20, 2017 so starting with February 2017 he has been President for 31 months. Total job growth during that… Job Description Forbes.com Jobs View All Jobs
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Trump Vs Obama: Who Created More Jobs In Their First Terms
Contrary to President Trumps frequent claims of the best economy ever, his best year for job growth fell below his predecessors last years in office. In fact, Trump will become the first president since World War II to lose jobs.
The U.S. saw some of its strongest job gains during the middle of President Obamas second term in 2014 and 2015 when more than 225,000 new jobs were being added every month. The employment growth continued under Trump until March 2020, when the coronavirus began to impact the country and the unemployment rate soon approached a staggering 15%.
Trumps tax cut triggered his best year for new jobs in 2018. The presidents average monthly job gains would peak strongly at 193,000 before devastation from the pandemic destroyed a decades worth of growth fostered largely under Obama. Five months after the first U.S. cases of COVID-19 were reported, fewer than half of those newer jobs had returned.
Trump has often touted his lower unemployment numbers, which fell to 3.5% in late 2019. The fewer job losses sustained through early 2020, in keeping with a trend that began during Obamas first term. The unemployment numbers had already stood at 4.7% before Trump was sworn in. In August, the rate stabilized at a still high, but not unprecedented, 8.4%.
Trump’s presidency, which ends on Jan. 20, is expected to close on a poor note, as the economy lost 140,000 jobs in December and the year-end economy was short roughly 4 million jobs.
Lyndon B Johnson : 86 Million
Yoichi Okamoto / LBJ Library
President Johnson added 8.6 million jobs to 68.2 million employed in December 1963 that’s a 12.6% increase.
LBJ spent on social programs, such as Medicare, Medicaid, and the War on Poverty. That increased the debt by 15.6%. By the time he left office, the economy was growing a robust 4.9% but inflation rose to 4.4%.
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How We Determined Which Presidents Created The Most Jobs
These numbers are taken from the household survey data collected by the Bureau of Labor Statistics . Between 1929 and 1947, they are taken from a special BLS survey. Both surveys count the total number of people employed. That includes paid employees, self-employed people, private household workers, farm-workers, and temporarily unpaid leave workers.
The number of jobs added during each president’s term was calculated by subtracting the total number of jobs when he entered office from the number of jobs when he left office. The number is taken from the household survey data for December of the prior year.
The Bureau of Labor Statistics publishes two employment statistics for each month, taken from two different sources. The household survey measures number of people employed. The non-farm payroll report measures the number of jobs created by businesses. This number does not include the self-employed, private household employees, farm-workers, or temporarily unpaid leave workers. An individual with two jobs is counted twice by the payroll survey.
The Claim: Trump Is The Worst Jobs President In History
Millions of jobs were lost during Donald Trumps presidency, according to a Nov. 1 Facebook post.
A chart posted to the Center for American Progress Action Fund page on Facebook showed negative job growth numbers for Trump compared with 12 of his predecessors. Trump is the worst jobs president in history with job losses totaling 4 million, according to the posts caption.
Per the chart, Trump is the only president in the last 80 years to net job losses during his presidency. President George W. Bush is the runner-up with 1 million jobs added during his administration. Bushs successor, Barack Obama, is credited with 12 million jobs.
The nation is in the middle of the worst economic crisis since the Great Depression, according to USA TODAY. But several factors are responsible for historically low job growth. Jesse Lee, senior adviser at CAP, said Trumps performance on jobs performance was rated accordingly.
Yes, there are always multiple intersecting factors responsible for any number of economic indicators across the globe, Lee told USA TODAY. Every president faces tests, and every president is judged by his reaction to them.
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A Look At Trump’s Economic Legacy
Examining the outgoing president’s policies from tax cuts to trade wars.
President Donald Trump campaigned as a billionaire businessman and champion of the working class with the economic prowess and deal-cutting skills that politicians in Washington, D.C., lacked.
He summed up his position neatly during the campaign: “I’ll be the greatest jobs president that God ever created.”
On the campaign trail, Trump claimed to be laser-focused on bringing back manufacturing and mining jobs, renegotiating trade deals that led to work disappearing overseas and curtailing immigration.
His Clintonian tack of “it’s the economy, stupid,” despite the myriad scandals and investigations that dogged him, largely worked as GDP grew at a healthy clip, the stock market soared and unemployment rates hit a half-century low, until the coronavirus pandemic gutted the job market.
Yet as he leaves after his one-term tenure, Trump has become the first president since Herbert Hoover during the Great Depression to depart office with fewer jobs in the country than when he entered.
Economists say Trumps economic legacy will be defined by his failure in leadership during the COVID-19 pandemic that exacerbated the financial downturn, domestic policies that overwhelmingly benefited the wealthy, and international trade policies that hurt U.S. industry while simultaneously alienating allies.
Here is a look at the outgoing president’s legacy on the U.S. economy.
The Jobs Record: Donald Trump Vs Barack Obama/joe Biden
Donald Trump and Barack Obama at the White House in January 2017.AP
CLEVELAND, Ohio – President Donald Trump declared during Tuesdays presidential debate that “We built the greatest economy in history.
Democratic challenger Joe Biden, the vice president under Barack Obama, differed, saying we handed him a booming economy. He blew it.
Heres what the record says on jobs and unemployment rates, according to the U.S. Bureau of Labor Statistics:
Jobs growth slowed during the first three years under Trump from what had been the case during the final three years of Barack Obama. This is before the coronavirus struck, inflicting damage to the jobs market.
During Obamas final three years, from January 2014 through January 2017, the nation added 8,079,000 jobs, an increase of 5.9%.
During Trumps first three years, from January 2017 through January 2020, the nation added 6,585,000 jobs, an increase of 4.5%.
The difference was more striking for Ohio. The Buckeye State gained 288,000 jobs, or 4.2%, during the final three years of Obama, versus 79,700 jobs, or 1.4%, during the first three years of Trump.
As for the unemployment rate, it fell from 6.6% to 4.7% during Obamas final three years, then dropped to 3.6% after three years under Trump, as of January of this year.
In Ohio, the unemployment rate fell from 6.6% to 5.2% during Obamas final three years, then to 4.1% by January after the first three years of Trump.
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Richard Nixon : 94 Million
President Nixon added 9.4 million jobs to the 76.7 million workers at the end of the Johnson administration. That’s a 12.2% increase.
He initially presided over a growing economy. Americans celebrated by importing more goods. As they paid in dollars, foreigners started redeeming them for gold. In 1973, Nixon ended the gold standard entirely. Gold prices rose to nearly $60 an ounce by mid-1972 and $90 an ounce by early 1973. No longer tethered to the price of gold, the value of the dollar plummeted, triggering inflation.
Nixon won re-election in 1972. But his actions led to the 1973-1975 recession coupled with double-digit inflation.
Trade War ‘disaster’ With China
Trade policy is where the president wields the most economic power, as Congress has over the years delegated negotiating authority to the presidents office, according to Menzie Chinn, professor of public affairs and economics at the University of Wisconsin, Madison. Chinn documented the trade war saga on his macroeconomic policy blog Econbrowser.
Trump exercised this power almost immediately during his first years in office and even went so far as to use national security as a basis for trade barriers with China — something that no president has done in recent times.
Ultimately, the tit-for-tat trade war that Trump waged with China was lost by the U.S., economists say, and data on trade deficits confirm.
Trumps dramatic trade war upended decades of policy, and kicked off with failed meetings with Chinese leaders in 2017. After the talks disintegrated, Trump initiated the trade war by imposing tariffs on all imported washing machines and solar panels in early 2018. He then announced 25% tariffs on steel imports and 10% tariffs on aluminum. China retaliated with tariffs of up to 25% on more than 100 U.S. products including soybeans and airplanes. The sporadic, retaliatory trade-off battles waged on for years, and dragged other countries that were trying to remain competitive in as well.
By the end of his term, the trade deficit will be larger in absolute terms than it was when he came to office, Chinn told ABC News.
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Claim Makes Unfair Comparison Experts Say
The job market has grown steadily under the Biden administration, according to numbers from the U.S. Bureau of Labor Statistics. But experts say the president cant take all the credit.
In May, total nonfarm payroll employment rose by 559,000, and in June, it rose by 962,000. August saw a smaller increase in jobs, at around 235,000.
The post compares that number to the number of jobs Trump netted throughout his entire term, a figure determined by subtracting the total number of jobs when he entered office from the number of jobs when he left office.
When Trump was inaugurated in January 2017, there were nearly 145.6 million employed Americans, according to data from the Bureau of Labor Statistics. By , his last full month in office, there were about 142.6 million total nonfarm employees about 3 million fewer than when Trump took office.
Looking at the numbers alone, the claim is accurate. But experts say its a misleading way to compare the data.
It is a bit unconventional to compare net jobs over a 4-year period to a single one-month change in employment, , an economics professor at Georgetown University, said in an email. The latter will always have much higher variance, be subject to seasonal fluctuations, and of course also to other short-run fluctuations .
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Performance Versus Obamas Baseline Is What Matters
A more useful way to quantify Obama vs. Trump economically would be to see how Trumps economic results compare to Obamas baseline. When Obama left office the Congressional Budget Office released a whole host of estimates on how various economic indicators would perform into the future if Obamas policies were left unchanged.
And to little surprise, Trumps economy is outperforming the hypothetical economy the CBO envisioned for an Obama third term. Council of Economic Advisers Chairman Kevin Hassett outlined as much in a September 2018 speech debunking the notion that the Trump economy was merely a continuation of Obamas. To summarize many of the metrics where Trump is performing above trend:
- Entrepreneurship is great again, with over 150,000 more business applications being filed each quarter over trend.
- Investment in small businesses is $300 billion higher than we wouldve seen had the trend Obama set continued .
- Blue collar employment wouldve declined had it continued its Obama-era trend. Instead, its grown and broken that trend Obama set. Blue collar employment is growing at the fastest rate since 1984.
- And as the economy booms, not only are the unemployed finding work, those who previously gave up looking for work are reentering the labor force. As they enter the labor force, theyre easily finding jobs, since there are more job openings today than unemployed people.
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