More Jobs Created Under Obama Than Bush, Nonpartisan Report Finds
The data on Obama's and Bush's job creation records are culled from the Bureau of Labor Statistics, the data arm of the U.S. Department of Labor. Factcheck described the comparative jobs data as follows:
By the time of Obama's second inaugural in January, the economy had added a net total of 1,208,000 jobs since he was first sworn in four years earlier, according to current figures from the Bureau of Labor Statistics. That beats George W. Bush's eight-year total of 1,083,000. And so far, Obama is extending his lead over Bush in job creation. Counting the jobs added in February, Obama's job creation total now stands at a net gain of more than 1.5 million.
Where Have the Obama Jobs Come From?
Nonpartisan reports have credited the much-debated Obama stimulus package with the creation of jobs. According to one tally from 2012 by the independent Congressional Budget Office, the stimulus was responsible for 2 million new jobs in the last three months of 2011. food stamps under Obama than under any president since President Franklin Roosevelt introduced the program in 1939.
Job Creation Still Lags
During the heady 1990s, the Clinton administration presided over the creation of roughly 20 million jobs. During both the Obama and the George W. Bush administrations, job creation has lagged when compared to that economic boom. However, Obama is only halfway done with his time in office.
But some scholars and pundits suggest that it doesn't make sense to judge presidents' performance by how many jobs are created on their watch. James Campbell, a political science professor at the State University of New York in Buffalo, noted, for instance, that any analysis must consider the "lagging" effects of economic policies from one administration into the next. And when that's the approach in assessing the economy, Campbell says, the reality is that since the 1940s "there are no presidential party differences with respect to growth, unemployment, or income inequality."
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Dan Fastenberg was most recently a reporter with TIME Magazine. Previously, he was a writer for the Thomson Reuters news service's Latin America desk. He was also a reporter and associate editor for the Buenos Aires Herald while living in South America.
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