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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsObama created 272,000 more jobs than Trump in the same amount of time
Trump has been taking coasting on President Barack Obamas economy, but after 18 months and a disappointing July jobs report, Trump still doesnt measure up to his predecessor.
On Friday morning, that latest jobs report showed that 157,000 jobs were created last month, well short of the 190,000 jobs that had been expected. But that didnt stop the official White House Twitter account from trying to take credit for Obamas record of job creation.
They tweeted that there have been 3.9 million jobs added since President Trump was elected, but half a million of those were added during Obamas presidency. The graphic that accompanied the tweet showed the current 94-month streak of job growth, 76 months of which occurred during the Obama presidency.
Link to tweet
And as several people pointed out on Twitter, Trumps record of job creation falls well short of Obamas.
According to Bureau of Labor Statistics, Trump created 3,432,000 jobs during the first full 18 months of his presidency, February 2017 through July 2018. During the last 18 months of his presidency, President Obama created 3,704,000 jobs.
And just last week, Trump and his minions were trying to brag about a single quarter of 4 percent Gross Domestic Product (GDP) growth, a mark which Obama eclipsed four times during his presidency.
https://shareblue.com/trump-jobs-report-underperforms-obama-18-months/
The poor dotard.
kurtcagle
(1,604 posts)Notice the U shaped structure at the top right. The right side of the U coincides with the tax package passing, and there are signs that the effects of the tax cut have already given all the stimulus that they could at this point in the economic cycle. August could go either way, but I suspect by September the job numbers may be down around 100,000 (and by November maybe down to 50,000).
The one thing I'm not sure about is whether we will see a dramatic sell off in the markets, or a slow, steady leak by the end of the year. All of that repatriated money that companies are now using for stock buybacks are being accompanied shortly thereafter by senior executives selling out their positions and getting out of the game while the stocks are overweight. As those stocks are resold into the market I think you'll see a point where supply exceeds demand, and stocks begin to plummet one by one in value. Enough stocks moving fast enough will spook the market until a quiet sell-off becomes a rout, though automated trading may hide a lot of that. To that extent, watch volume, not numbers. If the volume of shares traded on the various exchanges drops, that means that people are cutting their losses, even if the bots keep the indexes inflated. At some points, the bots will eventually return to reality, which is when I think you'll see the big drops in the markets, but by then, the damage is done.
Doodley
(9,119 posts)brush
(53,815 posts)steps as Fred Astaire, only she did them in high heels and backwards.
O pulled many more jobs and the country out of a roaring recession only he had hordes of obstructing repugs hanging onto his back and pulling the other way.
And that reminds me of what Ann Richards said about W. Bushhe was born on third base and thinks he hit a triple.
trump was presented with a surging economy, stock market and jobs figures and thinks he did it himself.
bluestarone
(17,012 posts)REPUBS in CONGRESS would have got off there ass's