Diary

The road to 4 million (March jobs report)

Jobs gained / (lost) in February 2009 per the US Dept of Labor :    (651,000)

Jobs gained / (lost) in March 2009 per the US Dept of Labor :        (663,000)

Number of jobs promised by the Obama administration :               4,000,000

Number of jobs remaining to hit goal :                                          5,314,000

 Perhaps, there are not enough of those “shovel-ready” jobs that the stimulus was supposed to produce.

Notes:

  1. Number of jobs promised by the Obama administration has varied between 3.5 – 4 million.  He promised 4 million early, and then started easing off on that.  I’m sticking with his original promise. (also “The road to 4 million” sounds a little better than “The road to 3.5 million).
  2. The above is tracking only new jobs created / lost.  Obama team has repeatedly said the 4 million represents jobs created or saved.  Since a “saved” job is highly subjective and can’t be calculated by any consistent standard, they are not accounted for above.
  3. Obama administration would likely dispute that the Feb and March 2009 job losses should be held against them, but that is life in the big city when you’re President.  The last economic recession started in March 2001 when George W Bush had been in office for 1.5 months.  Democrats were only too eager to hang that around his neck (ignoring the fact that it is economically impossible to drive the economy into recession in that short a time period).  Also, it is only fair to assume that Obama’s pledge involves a net gain of 4 million jobs as of the point when his administration took charge .  If we lose 4 million jobs at the beginning of his tenure only to gain 4 million jobs later to end up where we started, I hardly think that fulfills his promise.
  4. Updates to continue monthly