Obama Averaged 25K Jobs a Month in First Term
President Barack Obama’s first-term job totals are now in, averaging at just 25,000 jobs per month.
To put that in some historical perspective, President Ronald Reagan, who entered office amid severe economic decline, averaged 111,000 per month throughout his first term. Even one-term President George H.W. Bush managed to average 55,000 jobs a month.
These figures come on the heels of Obama’s announcement last week that he has decided to give his Economic Jobs Council the pink slip, choosing not to renew the panel that was created largely for public relations purposes and met only four times.
Furthermore, last week’s -0.1% GDP report stunned many economic analysts, muddying the future prospects for job creation.
For employment levels to return to what they were in January 2008, the United States will still need to add over 3.2 million jobs.