The monthly unemployment rate for November 2016 was 4.6%. This is Obama's 95th month of office. This drops the average unemployment rate for the time he has been in office from the average 7.53% in September 2016 at 93 months to the average of 7.48% in November 2016 at 95 months.
Here is the new standings for the Presidents with Obama's revised numbers:
The President with the worst average unemployment rate since World War II is?
Gerald Ford: 7.77%
Average Unemployment Rates for US Presidents since after World War II:
01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Dwight Eisenhower: 4.89%
04. Richard Nixon: 5.00%
05. Bill Clinton: 5.20%
06. George W. Bush: 5.27%
07. John Kennedy: 5.98%
08. George H.W. Bush: 6.30%
09. Jimmy Carter: 6.54%
10. Barack Obama: 7.48%
11. Ronald Reagan: 7.54%
12. Gerald Ford: 7.77%
710.1/95 = 7.4747 = 7.48%
There is one month left in the Obama Presidency.
The labor force participation rate went down from September at 62.9%, to 62.7% in November.
The president with the lowest labor force participation rate was Republican Dwight D Eisenhower, at 58.1%. That surely must mean the economy sucked at that time, huh?
The poverty rate when Eisenhower was in office was over 20% which is higher than any President since that time.
In the 1950s, a much higher percentage of women were stay at home mothers, taking care of the house and the children. Most households back then had children and there were little to no childcare services like there are today. So things were structured differently.
Today the low labor force participation rate is due heavily to the retirement of the baby boomers, but it is important to mention that Obama's current average economic growth for the country would not be able to support a labor force participation rate of 66% or 67.3%, its peak. If the labor force participation rate was currently 66% or 67%, you would be seeing unemployment levels closer to 10% thanks to very sluggish GDP growth. But since there are large demographic changes going on with the babyboom generation going into retirement, the job market for those entering the work force for the first time is good.
Obama's unemployment numbers were rescued by demographic changes more so than economic improvement. The question now is can the country get back to sustained and consistent quarterly real GDP growth of 4% or higher, year after year. If it can, immigration will have to increase to supply all the extra workers that will be needed.