Obama Economy Added 14.5 Mil People, 1.7 Million Jobs

Daniel Greenfield, a Shillman Journalism Fellow at the Freedom Center, is a New York writer focusing on radical Islam. He is completing a book on the international challenges America faces in the 21st century.


bad-economy

The media is claiming for the twentieth time that the recession is over. The recession has already ended so many times, it could have begun all over again.

On Friday, the Bureau of Labor Statistics said the U.S. economy added 217,000 jobs in May, with the unemployment rate unchanged at 6.3 percent. The economy needed to add 113,000 to pass the prerecession peak number of jobs from January 2008. The United States lost 8.7 million jobs in the recession. But this overlooks the simple fact that there are more working-age people in the U.S. now than there were six years ago.

Here’s one way of looking at that. There were 7.6 million unemployed people in the U.S. in January 2008, and the unemployment rate was 4.9 percent. Today, there are 9.8 million unemployed Americans, well over 2 million more than before the recession, and the unemployment rate is much higher.

So, while on its face it looks like the U.S. regained all the jobs lost over the past six years, that perspective doesn’t take into account the number of new people in the labor force or address the labor market gap created by those new people. Heidi Shierholz of the left-leaning Economic Policy Institute notes that, as of last month, there was a 7.1 million-job gap from prerecession levels.

Or to put it another way,

In this time, the U.S. civilian population increased by nearly 14.5 million people, although the labor force grew by just 1.7 million new jobs, according to BLS data.

A million immigrants come to the US each year. So we had 7 million immigrants and 1.7 million jobs. And the jobs are at the lower end of the pool which is why immigrants tend to show higher employment figures.

Significantly, employment in temporary help jobs has grown by 45% in the recovery and accounted for 10% of overall employment gains, as employers have waded tepidly back into hiring decisions. Employment in accommodation and food services — where many of our economy’s minimum-wage jobs exist — grew 13% and accounted for 17% of total new employment.

The “recovery” consists of millions of immigrants competing for a small number of low income jobs.

The civilian labor force participation rate was unchanged in May, at 62.8 percent. The participation rate has shown no clear trend since this past October but is down by 0.6 percentage point over the year.

This is what an Obama recovery looks like.

  • Aurelius

    You’re 18 years old, you’ve finished high school, and you’re looking for your first full-time job. I remember this scenario very well. My first full-time job, as was the case for many of us, was in the construction industry. I started out as a carpenter’s apprentice. Those jobs are gone now, if you are a US citizen. They are now filled with Mexican immigrants working for $8/hr.

    Did el presidente Jorge Boosh, or Vice Admiral Obama, even give this a cursory thought? Where are our kids supposed to work now?

    • pete

      they don’t get to – fundamental transformation – and a wholesale wealth redistribution from citizens to NONcitizens: jobs, property, congressional representation, etc.

    • hrwolfe

      NO coddling illegals goes way back but at the end of the early 90′s housing boom here in So. Cal. the house construction industry unions got all upset about illegals on job sites. Then a meeting happened and before ya new it the unions were OK with their future members on job sites. When house construction got going again you were hard pressed to find an english speaker among the workers. We have kept over a full generation out of the construction trades and the guys my age have told me that if they do not become bilingual they will loose their jobs.

    • carpe diem 36

      you did not pay attention: he is doing this on purpose!! he is shrinking America on purpose with all his EPA and other regulations and increasing taxes so people have no money to spend and no employment for those young ones with diplomas.

  • pete

    well, gee whiz, apparently the best solution would be to create several million more govt positions .. oh, and require them all to be bilingual
    what racist would want english as a primary language

  • cxt

    Mr. Greenfield

    Stop it, stop all the “counting” and “logic” and “paying attention”…….I am the Great And Powerful OZ……pay no attention to the man behind the curtain.

    Good article.

    Thank you for keeping a close eye on the folks behind the curtain.

  • alwaysright21

    n!99ers s&ck, mkay?

    • SCREW SOCIALISM

      socialist.

      • alwaysright21

        correction: AgH2O Republican Independent.