Conservative65
Gold Member
- Oct 14, 2014
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- #441
His estimate was off, so what?Very misleading information. Unemployment was in the 4% to 5% during the majority of Bush's presidency.Starting in Jan. 20, 2001, at the beginning of George W. Bush’s administration, the rate was 2.4 percent, but by the time he left in January 2009 it had reached 7 percent. The rate now is 5.9% and is on track to get even lower.
You appear to be confused. The op has been updated times but here is one of the latest updates:
The Unemployment Rate When Obama Took Office:
- For the record, when Obama took office in January 2009, the "official" unemployment rate in seasonally adjusted numbers was 7.8%, with 12,079,000 people reporting themselves as unemployedand actively looking. 142,153,000 people were working in January 2009.* (These numbers are adjusted slightly since original publication as the Bureau of Labor Statistics updates its numbers. The original January 2009 unemployment rate reported by the BLS in February 2009 was 7.6%)
- In "raw" numbers not adjusted for seasonal variance, the unemployment rate was 8.5% with 13,009,000 people reporting themselves as unemployed and actively looking for work. 140,436,000 people were working in numbers not adjusted for seasonal variance.
The Unemployment Rate at its Peak:
- At the "trough" (bottom in terms of jobs) of the recession in late 2009/early 2010, the "official" unemployment rate in seasonally adjusted numbers climbed to 10.0% in October 2009 with15,382,000 people (out of a labor force of 153,887,000) reporting themselves as unemployed. 138,421,000 were working in October 2009; however, the lowest number of people working was reported in December 2009, when 138,025,000people (in seasonally adjusted numbers) were working.
- In "raw" numbers not adjusted for seasonal variance, the unemployment rate reached a peak of 10.6% in January 2010 with 16,147,000(out of a labor force of 152,957,000) reporting themselves as unemployed and actively looking for work. Only 136,809,000were working (in "raw" unadjusted numbers) in January 2010.
The Unemployment Rate NOW:
The op is not about Bush's average UE, it's about the UE he passed onto Obama. The opening sentence of the above document clearly points that out!
- Now, in September 2014, the "official" unemployment rate in seasonally adjusted numbers is 5.9%, with 9,262,000 (out of a large labor force of 155,862,000) unemployed and actively looking for work. 146,600,000 people are working now. (Last month 146,368,000 were working. This is an increase of 232,000people working in seasonally adjusted numbers.) The unemployment rate decreased 0.2% to 5.9% as the number of unemployed decreased by 80,000. The labor force DECREASED by 64,000 people in September. We have 524,000more people in the labor force than we did in September 2013, 2,189,000more people are employed than a year ago, and 1,665,000fewer people are unemployed than we were unemployed a year ago in September 2013. (The unemployment rate has now decreased 1.1% in the year since September 2013.)
The rate went well over the 8% Obama said it would go if the stimulus passed in 2009.
His estimate was over 20% off. For someone that's supposed to be that smart, it doesn't show.
So was he lying or just incompetent?