Blockbuster Feb Jobs Report — 12m Jobs, Biden Boom Keeps Booming!
Friday, February 3rd — The February BLS jobs report is out and it’s a blockbuster — 517,000 new jobs created in January, almost 600,000 w/revisions to November and December!!!!! Additionally, BLS revised up their estimates from March of 2022 by more than 600,000 jobs. With this new data the NDN monthly jobs tracker clocks in at:
33.8m jobs — 16 years of Clinton, Obama
12.1m jobs — 2 years of Biden
1.9m jobs — 16 years of Bush, Bush and Trump
Biden’s 12.1m jobs is 6 times as many jobs as were created in the 16 years of the last 3 Republican Presidencies, combined. It is also millions more than were created in the entirety of any of their three individual Presidencies. Many millions more. Since 1989 and the end of the Cold War, the US has seen 48 million new jobs created. Remarkably 46 million of those 48 million were created under Democratic Presidents, 96%.
We put some of this and other data into a new thread too.
What this data tells us is that since this new age of globalization began in 1989, a modern and forward looking Democratic Party has repeatedly seen strong economic growth on its watch. Republican Presidents, on the other hand, have overseen three consecutive recessions — the last two, severe. The contrast in performance here is very stark, it is not a stretch to state that the GOP’s economic track record over the past 30 years has been among the worst in the history of the United States.
The Biden economic track record has been very strong:
- GDP growth 3x Trump, 6x as many Biden jobs as last 3 GOP Presidents combined
- best COVID recovery in G7
- lowest unemployment rate in 50 yrs
- lowest poverty/uninsured rates ever
- very elevated wage gains/new business starts
- 2 job openings per unemployed person, a record
- real earnings up in 2022, trade deficit/deficit down
- domestic oil production on track to set records in 2023
- historic investments in our future prosperity (infrastructure, CHIPs, climate, health care)
And look at the jobs created per month over these Presidencies — Rs at just 10k per month over 16 years. Biden is running at more than 50 times that so far. Yes more than 50x.
The bottom line is that Democratic policies have repeatedly been able to make globalization work for the American people in this new and challenging age. GOP policies have repeatedly failed to deliver, as a national party Republicans have repeatedly failed to do their part. For those looking for reasons why America has not made more progress in this era, reactionary Republican policies appear to be a very good place to start.
It is our firm belief here at NDN that the current radicalization of the GOP is intimately linked to its repeated failure to handle the challenges of the post-Cold War era. The rigid ideological approach of the modern GOP has left it unable to govern in a time of rapid change; and those repeated failures have left many Republicans angry, reactionary and willing to do the unthinkable to stay in or regain power. The modern GOP has no answers for many of the most important challenges America faces today, and rather than modernizing, adapting, as all institutions must in a time of change, the GOP has decided to fight the future by rigging the system to remain in power while the country and its people drift from their narrow grasp.
It is why Democrats must fight so hard to prevent Republicans from once again cheating their way into power, and establishing a sustained period of minority rule. It is not just a betrayal of the great American experiment, but it will guarantee, as the data here strongly argues, a period of extended decline as much needed progress on the big challenges we face will be further delayed.
This argument — about the success Democrats have achieved through modernization, and the failures of the GOP for their refusal to do so — is at the very core of our presentation, With Democrats Things Get Better. You can find our newly updated recording of With Dems, recorded on January 26th, 2022, here on my YouTube channel.
If you liked this analysis, you will love With Dems.