Guest post by Joe Hoft
The US Bureau of Labor Statistics (BLS) announced its July jobs report on Friday. Unemployment is down to 3.9%, while more people are employed in the US than at any time in history. But the big news is that this century, since the year 2000, nearly 25% of all job increases have occurred during the Trump years.
The BLS announced July’s job numbers on Friday and the results were impressive –
Total nonfarm payroll employment rose by 157,000 in July, and the unemployment rate edged down to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, in manufacturing, and in health care and social assistance.
Since Donald J. Trump became President more people are working in the US than at any time in history. But the shocking news in Friday’s jobs release was related to the increase in jobs since the President was elected in late 2016.
The BLS data shows the following number of jobs added since 1939. But the number of new jobs is startling when compared to the GW Bush and Obama years –
Since 2000 the US has added a net increase of 16.4 million new jobs. Since 2007 the US has added a net increase of 10.7 million new jobs. But in 2017 and 2018 the US has added a net of 3.7 million new jobs.
This means that more than one third of the increase in jobs over the past 12 years have occurred under President Trump. Also, since the year 2000, nearly a quarter of the increase in jobs have been added during President Trump’s economy.
By comparison, both Presidents GW Bush and Obama incurred net decreases in jobs in there first 19 months on the job. GW Bush incurred a net decrease in jobs of (2.1) million while Obama lost a net (4.4) million jobs in his first 19 months on the job.
