Archive for May 12th, 2022

Biden: Greatest job creator … blah, blah, blah.

May 12, 2022

Here’s a handy de-coding chart for you…

Below is the Fed chart of total non-farm employment going back to the start of the Trump administration … with a couple of defining milestones.

click chart to enlarge

(A) Employment was 143.2 million when Trump took office.

(B) Prior to the Covid lockdowns, total employment reached 152.5 million … an increase of 9.3 million

(C) The Covid lockdown cut employment by 22 million … down to 130.5 million

(D) In the  final year of the Trump administration, about 12 million jobs were regained … pushing employment back up to 142.5 million (which was 700k lower than when Trump took office)

(E) Currently — after a about a year of Biden — employment is at 151.3 million … up 8.8 million since his inauguration ,,, but still 1.2 million lower than the pre-Covid level


My take

(1) Seems reasonable to credit Trump with about 9 million jobs created during the “normal” period preceding the Covid pandemic.

(2) Less reasonable to tag Trump with “causing” the destruction of 22 million jobs during the Covid pandemic … true, he OK’ed the lockdowns … but, reasonable to argue that the job losses were transitory, i.e. regainable once the pandemic passed.

(3) To that last point, during Trump’s last year, about 12 million of the Covid-related job losses were regained (i.e. not “created”)

(4) Since Biden’s inauguration, another 8.8 million jobs were regained from the Covid drop … pushing employment up to 151.3 million … still more than 1 million shy of the the nation’s pre-Covid employment level.

So, is Biden — as he claims —  the greatest job creation president ever?

Those are the numbers … draw your own conclusion.

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