I have a B.S. If they had been correctly allocated the unemployment rate would have been 19.5% versus the reported 14.7%. I cover technology companies, worldwide economies and the stock market, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, U-3 Reported (official unemployment rate): 11.1%, U-3 Adjusted for 2 million misclassification: 12.3%, U-6 Rate includes marginally attached: 18.0%, U-6 Adjusted for 4.9 million misclassification: 19.2%, June: 2.89 million, an increase of 1.6 million since February. As a result of more stringent eligibility rules and more job gains in recent years, the number of Americans on food stamps dropped to 35.7 million in 2019 — the lowest level since 2009. He displayed the same tendencies regarding the unemployment rate. U.S. International Transactions: Exports, Imports and Balances, Annual Firearms Manufacturing and Export Report,” Year 2016 Interim, Annual Firearms Manufacturing and Export Report,” Year 2008, Average sales-weighted fuel-economy rating (window sticker) of purchased new vehicles for October 2007 through August 2017. CBO also projects that under current law, annual deficits will again exceed $1 trillion in 2022 and beyond. When he tweeted or spoke about the number of jobs being created from 2012 to 2016 he tended to call them phony or false. Corporate Profits After Tax by Industry.” 3 Aug 2017. In 2016, wind and solar accounted for 6.9 percent of the combined total of utility-scale power and “distributed” solar power. The average worker’s pay finally grew more than 3 percent a year under Trump, and there was a drop in the number of Americans on food stamps. During the Obama years, electric utilities shifted away from burning coal, which accounted for 48 percent of their power generation in 2008, but only 30 percent in 2016. Border Patrol Apprehensions FY2017 YTD(October 1 – August 31).” Undated. U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives. He touted rates were inflated and incorrect as shown in the chart below during 2012 to 2016. S&P Dow Jones Indices, “500 and DJI Daily Historical,” proprietary data furnished upon request and used with permission under academic license. Even with the positive job results the past two months, the unemployment rate and the number of unemployed people under President Trump are still at worse levels than at any time during President Obama and the Great Recession.
Illegal immigration declined: The Border Patrol caught 35 percent fewer people trying to get into the U.S. from Mexico.
“Premiums and Worker Contributions Among Workers Covered by Employer-Sponsored Coverage, 1999-2017.” 19 Sep 2017.
But the devastation from the pandemic wiped out a decade’s worth of jobs gains in the spring. Corporate Profits After Tax by Industry. Congressional Budget Office. Business investment was anemic again in 2019, even before the pandemic’s economic blow. That’s a 54 percent increase, compared with the 9 percent gain at the end of Obama’s time in office. “Table 1. Consumer spending drives about 70 percent of the U.S. economy.
Trump tweeted about the job market before he became President. U.S. Energy Information Administration. But the National Shooting Sports Foundation — the gun industry’s trade group — tracks approximate sales figures by adjusting FBI statistics on background checks to remove those not related to actual sales, such as checks required for concealed-carry permits. It was 4.2 percent higher for just, In 2016, production of pistols and revolvers totaled 5,576,366 according to, by the Bureau of Alcohol, Tobacco, Firearms and Explosives. You may opt-out by. The murder rate dropped to the lowest on record in 2014, then rose and finished at the same rate as when Obama took office. Bureau of Labor Statistics. That declined only slightly by the end of Obama’s tenure. The home ownership rate drifted down under Obama, touching the lowest point in more than half a century during his final year. In our graphics, we show Republican administrations in red, Democratic administrations in blue. New York Times. Supplemental Nutrition Assistance Program (Data as of Sept. 8 2017). That’s an increase of 207 percent over the figure for 2008, and it broke the previous record set in 2013.
In percentage terms, the gain in corporate profits under Obama was less than half the increases under George W. Bush and the Nixon-Ford administration, but twice the increase under Reagan. The U-6 rate’s high mark was 17.2%, two months later in December 2009. “Total Illegal Alien Apprehensions By Month” Fiscal Years 2000-2016. Note: For these historical comparisons, we’ve begun with the inauguration of Harry Truman in 1949, when he became the first president elected after the end of World War II. Then they recovered quickly under Obama — far more quickly than jobs or personal incomes — and reached a new record in 2010, his second year in office. Now those gains are wiped out.
Jobs — Over Obama’s eight years in office, the economy added a net total of nearly 11.6 million jobs … The deficit hit $1.4 trillion in fiscal year 2009. The effect on take-home pay for workers was made even larger because employers picked up a somewhat smaller share of the total cost of health coverage on average. To some extent, the gain under Obama represents a rebound from an unusually depressed level.
Early Release of Selected Estimates Based on Data From the 2016 National Health Interview Survey.
Between Jan. 20, 2009, and Jan. 20, 2017, there were 1,751 U.S. military fatalities connected to the Afghan war, which became America’s longest war in 2010 and still has no end in sight.
Then the pandemic hit and Congress responded with more than $3 trillion in aid. U.S. Bureau of Economic Analysis. Premiums for employer-sponsored health insurance (which covers nearly 56 percent of the population, according to Census figures) rose 43 percent under Obama for family policies, and 37 percent for policies covering a single person. This caused the official unemployment rate to soar to nearly 15 percent in April. Measured from his first month to his last, benefit levels and enrollment both grew less under Obama than under his predecessor. The last time the rate was that low was in the third quarter of 1965. Annual figures go back to 1929, and can be found on line 45 of BEA’s “National Income by Types of Income” table (Table 1.12). and almost the same as under both Clinton and Carter. The increase in solar power in particular has been spectacular.
As things stand, federal debt owed to the public will reach 80 percent of GDP in 2020, and more than 91 percent in 2027, CBO projects. A Project of The Annenberg Public Policy Center, The trend to higher incomes also shows up in the Bureau of Labor Statistics’ monthly report on, . 28 Aug 2017. Supplemental Nutrition Assistance Program (SNAP) data, fiscal years 1968-2017.
Posted on September 29, 2017 | Updated on May 22, 2020. The official unemployment rate also dropped from 13.3% to 11.1%, but due to continued misclassification of some unemployed persons the rate should be 12.3%.
Obama set a goal of doubling the fuel efficiency of cars and light trucks, but that promise isn’t working out.
“Table 3.3a Petroleum Trade: Overview.” Monthly Energy Review.
“The Debt to the Penny and Who Holds It.” Data extracted 27 Sep 2017.
U.S. Energy Information Administration. For the fourth month in a row there were millions of people whose employment status was misclassified. But getting down to that point was a long, slow grind. Also, “baby boomers” — those born in the years after WWII veterans returned from the war to take up family life — reached retirement age in great numbers during Obama’s time. In fact, the only other post-war administrations to see smaller gains in employment were those of Obama’s predecessor, George W. Bush, who eked out a bare 1 percent gain, Dwight D. Eisenhower (7.1 percent in his eight years), and Bush’s father, George H.W.
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