Obama the Steady – January Jobs Report

There was a ton of good news in the job report that was released last week.

From BLS:

Total nonfarm payroll employment rose by 257,000 in January, and the unemployment rate
was little changed at 5.7 percent, the U.S. Bureau of Labor Statistics reported today.
Job gains occurred in retail trade, construction, health care, financial activities,
and manufacturing.

The economy continues to slowly but surely add more and more jobs. I wish we could have done this sooner and quicker but we have a Congress that doesn’t want to do anything that would help the average American worker. Can you spell – STIMULUS? An additional stimulus would have avoided the pain that millions of Americans felt because they were out of work for months or years.

59 straight months with private section adding jobs
Term Private Sector Jobs Added (000s)
Carter 9,041
Reagan 1 5,360
Reagan 2 9,357
GHW Bush 1,510
Clinton 1 10,885
Clinton 2 10,070
GW Bush 1 -844
GW Bush 2 381
Obama 1 2,018
Obama 2 5,5421 (124 months into 2nd term: 11,084 pace.)
Read more at http://www.calculatedriskblog.com/2015/02/public-and-private-sector-payroll-jobs.html#zK1jpdLecMH5Db00.99

Let’s let this last table sink in for a while. With all of the bad-mouthing of Obama he is on pace to have created more jobs during his last 4 years in office than any other president over the last 35 years. This includes Reagan.

If you are wondering where the pain was really felt then you have to look at the public sector. It was the public sector that took a HUGE hit.

Term    Public Sector Jobs Added (000s)
Carter 1,304
Reagan 1 -24
Reagan 2 1,438
GHW Bush 1,127
Clinton 1 692
Clinton 2 1,242
GW Bush 1 900
GW Bush 2 844
Obama 1 -702
Obama 2 141 (124 months into 2nd term, 28 pace)
Read more at http://www.calculatedriskblog.com/2015/02/public-and-private-sector-payroll-jobs.html#zK1jpdLecMH5Db00.99

Oh, did you see that the November job numbers were revised up. This pushed the November job numbers over 400,000!!!

More from CBPP:

  • Private and government payrolls combined rose by 257,000 jobs in January and BLS revised job growth in the previous two months upward by a total of 147,000 jobs (some of that due to the annual benchmark adjustment).  Private employers added 267,000 jobs in January, while overall government employment fell by 10,000.  Federal government employment fell by 6,000, state government by 3,000, and local government by 1,000.
  • This is the 59th straight month of private-sector job creation, with payrolls growing by 11.8 million jobs (a pace of 200,000 jobs a month) since February 2010; total nonfarm employment (private plus government jobs) has grown by 11.2 million jobs over the same period, or 190,000 a month.  Total government jobs fell by 585,000 over this period, dominated by a loss of 368,000 local government jobs.
  • The job losses incurred in the Great Recession have been erased.  There are now 3.0 million more jobs on private payrolls and 2.5 million more jobs on total payrolls than at the start of the recession in December 2007.  Because the working-age population has grown since then, the number of jobs remains well short of what is needed to restore full employment.  But growth like that of the last three months (an average monthly gain of 336,000 jobs) bodes well for closing that gap.
  • Average hourly earnings on private nonfarm payrolls rose by 12 cents in January to $24.75.  Over the last 12 months they have risen by 2.2 percent.  For production and non-supervisory workers, average hourly earnings rose by 7 cents to $20.80, or 2.0 percent higher than a year earlier.
  • The unemployment rate edged up to 5.7 percent in January, and 9.0 million people were unemployed.  The unemployment rate was 4.9 percent for whites (0.5 percentage points higher than at the start of the recession), 10.3 percent for African Americans (1.3 percentage points higher than at the start of the recession), and 6.7 percent for Hispanics or Latinos (0.4 percentage points higher than at the start of the recession). (more…)

2 Responses

  1. WOW.  Still at it, huh?
    Why is it the case among so many “Black Quasi-Socialist Progressive-Fundamentalist Racism Chasers”, like yourself – you are more interested in “Fighting The Progressive Fundamentalist” Proxy Fight at the national political level than you show competency at using the local political institutions that you dominate within the Black community to substantively improve the Black community employment rates and academic attainment?
    You prefer debating “Republican President vs Democratic President” BUT – if the key talking point is true – then we should have seen:
    * The Black / White employment rate gap shrink under President Obama
    OR 
    * Obama command the “Eric Holder Justice Department” to go after the “Racist Employers” who you all claim are responsible for the gap, with the threat of him losing your support if he refuses.
    It shows clearly what your interests are.

  2. Constructive Feedback what the hell? I can agree that this is feedback… I’m not sure that I can agree that this is constructive. Whenever you’re opening sentence starts with name-calling, I’m not interested. If there was something constructive in whatever you wrote, you lost me right after you called me a “black quasi-socialist progressive – fundamentalist racism chasers”

    I’ve been writing my blog for nearly a decade. I have well over 7000 posts. I would suggest that nothing that I’ve posted would label me as a socialist. I would suggest that nothing that I’ve posted would label me as a racist. I’m not sure what the word fundamentalist has to do with anything. I think it is just thrown in for hyperbole and shock affect. The whole phrase is more of a word salad than anything that reflects meaning.

    If you would type a little slower and let your brain engage for just a half a second, you could’ve looked through some of my post and found that I have already discussed the gap between black and white unemployment. It’s the subject I’ve touched on many times. At no time have I suggested that employers are racist.

    Thanks for your comments….I think. Well, on the other hand, nope. Your comments are about as helpful as spitting in the wind.

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Errington C. Thompson, MD

Dr. Thompson is a surgeon, scholar, full-time sports fan and part-time political activist. He is active in a number of community projects and initiatives. Through medicine, he strives to improve the physical health of all he treats.

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