10/17/2012

Where in the heck did Obama get his 5.2 million jobs number?

From the debate tonight:
Now, we've seen 30 consecutive -- 31 consecutive months of job growth; 5.2 million new jobs created. And the plans that I talked about will create even more. . . .
Where does Obama 5.2m jobs number come from? The Bureau of Labor Statistics' Establishment survey shows that -61,000 job change since the beginning of his administration. Even from lowest jobs point in Feb 2010 there has just been an increase of 4.3 million.  Yet, at the same time the working age population grew by 6.7 million.

Take the Household survey, from January 2009 to September there was an increase of 770,000 jobs (though this was negative up until the last month and the Obama administration has argued before against using this measure for jobs).  From February 2010 to September there was an increase of 4.3 million jobs.  If you go from March 2010, which is what he seems to be claiming, there were 4 million jobs.

Worse, if he want to use this measure, he is also wrong about new jobs being created for consecutive months.  If he uses it, there would have been 11 months during this time where jobs were actually lost.  That is worse than not just keeping up with the growing population.

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