U2Edge
Gold Member
- Sep 15, 2012
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- #601
lt sounds like the election of a president is the primary factor that determines the employment rate.
If that is true then we only have to elect the right president and bingo we have full employment.
But I wonder if there is more to America's employment rate, I mean the president can't pass laws so how does his election change the employment rate?
Is there a book that explains how the election of a president determines the employment rate?
Have economists figured out why employment varies so much?
Does the employment rate change as soon as a president is elected?
Are there factors that determine the employment rate other than the election of a president?
How many economic factors determine an employment rate?
Does each of those multiple employment factors have to be in the same proportion to have a good or bad effect on employment?
Whatever the factors are, there's no denying that employment does better under Democrat presidents than Republicans...
Here's a list of the presidents, along with the amount of increase/decrease, of the unemployment rate after 64 months in office...
Clinton -3.1 -42%
Johnson -2.3 -40%
Obama -1.5 -19%
Kennedy** -0.9 -14%
Reagan -0.4 -5%
Carter*** 0.0%
Bush +0.5 +12%
Nixon +1.7 +50%
GHW Bush*** +1.9 +35%
Ford* +2.0 +36%
Eisenhower +4.5 +155%
* = in office 29 months
** = in office 34 months
*** = in office 48 months
Bureau of Labor Statistics Data
Simply comparing the first month of administration with its last month is misleading. It misses 99% of the data which tell a different story over the course of the administration. You could have multiple rises and falls which are never seen with such data. That is why the only accurate way to assess the unemployment rate during this periods of time is to look at the average, which uses all of the DATA. We don't judge students by simply their first month in school and their last month. Students get judged by their GPA which averages all their grades over the course of the year or time in school. For unemployment, its also the only accurate way to judge how good or bad things were during a Presidents entire time in office.