Our economy is like the METS. They won 64 games this year, isn’t that great! The bad news is they lost 72 games. The economy picked up 4.5 million jobs but lost over 700,000 in total under Obama’s leadership.
President Obama and his aides have pushed the idea that 4.5 million jobs have been created under his administration. That was heard again and again last night by Rahm Emanuel, Deval Patrick, and San Antonio Mayor Julian Castro, the party’s keynote speaker.
It is factually incorrect. We gained 300,000 jobs in four years in the private sector and lost 1,000,000 jobs in the public sector under this administration. This is while we spent nearly a trillion dollars to keep unemployment under 8%.
The 4.5 million does reflect the growth of private-sector jobs since January, 2010. However, it is not the actual increase in jobs. The net gain is actually 300,000 jobs and that is from the U.S. Bureau of Labor Statistics.
If you add up nonfarm payrolls with government workers since the beginning of 2009 to July 2012, there has been a net loss of 1 million public-sector jobs since Obama took office
The jobs coming back are low-wage jobs in retail and food services according to a study by the left-leaning National Employment Law Project and they are coming back three times faster than higher paying jobs.
The Obama jobs council hasn’t met for over six months because Obama said he is too busy. They met infrequently before. Obama does not like to hear opposing opinions and has put as much faith in the jobs council as he does Bowles-Simpson – none!