Sunday, July 6, 2008

ARE YOU BETTER OFF
THAN YOU WERE 8 YEARS AGO?...


I computed some interesting statistics about job growth vs. population growth in the USA which show why the Republicans, the party supposedly of growth (???) are in trouble.

--Rex Frankel (http://rexfrankel.com/)


Since 1975, the USA's population has grown by an average of 1% per year pretty consistently. The annual growth in population was around 2 million more per year in 1975, and is around 3 million more each year now, according to the census. (Total population has increased from 215 million to 303 million.)

During Democrat Jimmy Carter’s Presidency, the population increased by 9.7 million. Jobs increased by 10 million.

During Republican Ronald Reagan’s two terms, the population grew by 17.4 million. Total jobs increased by 6.8 million. Not so good.

Under Republican George Bush Srs.’ one term in office, population increased by 12.9 million. Total jobs increased by only 2.3 million. Whoops!

During Democrat Bill Clinton’s two terms, the population rose by 25.2 million. Total jobs increased by 18.7 million. Blame it on Monica?

Now for George Bush Jr.: In his 7 ½ years in office, population has increased by 18.8 million, while only 8.2 million jobs have been added.

Of course, we had a statistical anomaly due to 9-11, in which 2 million jobs were lost in the next year. But for years 2004-2006, the rate moved back to normal. But then in 2007 the growth rate was almost zero, and during the last 6 months we've lost jobs each month.

In Summary, when job growth is the same as our population growth rate, America's economy is somewhat healthy. Under Democrats our job growth rate has been pretty close to our population growth. Not so with the Republicans.

This simple statistical analysis doesn't deal with inflation, slow or non-growth of wages, outsourcing, etc., which have been part of the general trend of U.S. industry under most recent presidents. But despite what Rush Limbaugh and the right wing hotheads claim, we Americans are much better off when a Democrat is in the White House. If you've got a job, at least you have a chance to get ahead.

"It's the economy, stupid."

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For USA population totals, See http://www.census.gov/prod/2007pubs/08abstract/pop.pdf


For USA employment totals, see http://www.bls.gov/data/home.htm, then click on the icon titled "most requested statistics" to the right of "Labor Force Statistics from the Current Population Survey". Then click on the box next to the first item, which is titled "Employment Level - Civilian Labor Force", click on the "retrieve data" box, and the employment numbers will appear!

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