Average Monthly # Job Gains
-by year
•2017: 171,000
•2016: 187,000
•2015: 226,000
•2014: 250,000
•2013: 192,000
•2012: 179,000
•2011: 174,000
•2010: 88,000 # JobsReport
Trump’s much-hyped ‘job boom’ is fake news: 2017 was the worst year for job creation since 2011
During his presidential campaign, Donald Trump promised he’d be the “ greatest jobs president God ever created .” And as his administration has become increasingly embroiled in scandal during the first year of his presidency, Trump has routinely fallen back on bragging about the allegedly unbelievable job creation he’s overseen.
But there’s just one problem — according to the latest jobs data, 2017 saw the most anemic job growth in America since Obama’s first term, when the economy was pulling out of the Great Recession he inherited from George W. Bush.
“U.S. job gains slowed by more than forecast in December, wage growth picked up slightly and the unemployment rate held at the lowest level since 2000, adding to signs of a full-employment economy,” Bloomberg reported . “The job gains, while less than forecast, bring the 2017 total to 2.06 million jobs — below 2016.”
According to data from the Bureau of Labor Statistics, the 2.06 million jobs created last year were actually the fewest in a year since 2011. Here’s the year-by-year breakdown of jobs added since then.
Even Trump’s favorite TV network — Fox News, which largely covers him uncritically — acknowledges that average monthly job gains during Trump’s first year were the least since 2010.
With an underwhelming job creation record, Trump’s economic brags of late have mostly been about the stock market.
The Fake News Media barely mentions the fact that the Stock Market just hit another New Record and that business in the U.S. is booming...but the people know! Can you imagine if “O” was president and had these numbers - would be biggest story on earth! Dow now over 25,000.
But the percentage of Americans who own stock is at a historic low — according to research Gallup conducted in 2016 , “slightly more than half of Americans (52 percent) say they currently have money in the stock market, matching the lowest ownership rate in Gallup’s 19-year trend.”
In short, stock market gains aren’t necessarily benefiting working-class Americans, and the latest jobs data shows that wages aren’t rising much either . And while Trump is in the habit of touting how the Republican tax cut bill will juice the economy, nonpartisan analyses have concluded that the vast majority of the benefits will accrue to the top one percent .
And as is the case with job creation, Trump’s first-year record with regard to the stock market underperformed Obama’s.
Increase in Dow under:
- Obama from Jan 20, 2009 to Jan 4, 2010: 33.2%
- Trump from Jan 20, 2017 to Jan 4, 2018: 26.5%
Increase in S&P under:
- Obama from Jan 20, 2009 to Jan 4, 2010: 40.7%
- Trump from Jan 20, 2017 to Jan 4, 2018: 20.0% https:// twitter.com/realdonaldtrum p/status/948944124132167680 …
The 2017 jobs numbers also indicate that Trump is misguided in his oft-professed belief that rolling back regulations creates jobs.
During the Obama years, Trump routinely argued that government data showing the job market steadily pulling out of the Great Recession were fake — he called the BLS’ unemployment rate “ one of the biggest hoaxes in American modern politics .” But in March, then-Press Secretary Sean Spicer clarified that while the numbers “ may have been phony in the past ,” they are “very real now.”
In other words, Trump has already foreclosed the possibility of dismissing his unimpressive job creation record as fake news. Sad!
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Trump's economic boom is based on how much money you have in the stock market. (and even then it began under Obama)
Most Americans don't have much.
Stop lying Trump !
Normally, we should cut the president in this circumstance a little slack. As the economy nears "full employment" job creation is going to slow down.
If you listen to Trump, his job creation machine will keep chugging away until unemployment is zero. That is not the way it works.
But Trump keeps bragging, even though the total jobs created under him were less than each of Obama's last 5 years in office.
At some point this asshole Trump simply must start telling the truth. If he can't do that he can get the fuck out of Dodge.
FAKE NEWS!! FAKE NEWS I SAY!!!
Sooooooo...The Dow did slightly less in one year under Trump than it did in 8 years of Obama, and that was after it fell to a low of around 7000 in 2009. Also, the NASDAQ improved in one year, half of what Obama did in 8.
My take on this is, and I'm usually correct, is that the seeder is yet again desperate to make President Trump look bad, but in reality, he is making himself look desperate.
As far as jobs go, don't you libs screech that Trump is only riding the coat tails of Obama to a strong economy? That means this year's job record is all Obama, right? Just using liberal logic.
Really?! The Dow has gone up 140% in the 8 years Obama was in office! I know you can read what was written so no excuses for being blatantly disingenuous on the side by side comparison!
But thanks for pointing out that it started INCREASING under Obama after a record LOW
No once again Trump is making himself look bad by making boisterous absolutely claims that don't hold up to scrutiny or facts! The fact that when Obama was hitting better numbers in comparison, it was fake and cooked books....but for him it's the best thing since creation
Oh no, you have to use rightwing logic on this one.....didn't you righties claim that the first quarter GDP was Obama's because it was so low? but anything after that was all Trump's doing? So you all going to blame Obama when Trump doesn't get his 3% GDP he promised and you all screamed he would?!....And speaking of the jobs report, the truly ironic part about all this is even if you do say this is Obama's jobs report (even though Trump himself have claimed that it's his) you still don't realize it is STILL A GOOD JOBS REPORT! We were LOSING jobs when Obama took office!
Face it you either claim all or none......because this cherrypicking shit is getting old!
I guess you missed the part about the numbers coming from fox news?
OK, so you guys have been ridiculing Fox and their viewers for years, stating they are liars and viewers are the least informed, but now, because a story came out on Fox that supports your agenda, Fox is stating the truth?
You guys really need to get straight who you hate and who you worship. Liberal hatred has far engulfed each one of you.
Where are getting those numbers? Link please.
The FACTS are what's making Trump look bad, not John.
Here's the real desperation in this seed:
As much as Trump pretends that Obama was bad, he just can't help measuring himself against "O" and decrying the fact that he never measures up.
Nope. Trump is taking credit for the raise in the stock market, the ONLY part of the economy that matters to him and his minions.
There have been at least three seeds on here that BRAG about 'Trump's' jobs number. Just before he got on the helicopter to go to Camp David he BRAGGED about the jobs numbers. Trump is BEGGING to be given praise. Maybe over the weekend they'll use McDonalds fries as treats to keep him calm while they explain to him that "O's" job numbers are BETTER than his. Should be a fun time.
Good point!........Care to explain why you would not have that same thinking regarding Trump and the Dow now?!
It was a 1 year comparison not a complete term comparison. Please pay attention to the details before responding, it adds nothing to the conversation otherwise.
Trump doesn't need any help from liberals to look bad. Everything he tweets, says and does is simply wrong on so many different levels. This idiotic, ignorant, aggressive, petulant man-child is an embarrassment to most Americans and a danger to all intelligent humans and the healthy environment we all need to survive.
Have always detested the "look at my numbers" political screed. Bottom line, our economy is not based on any single factor. While the Dow is rocking it right now, jobs are looking relatively good...our debt continues to grow as does our trade deficit. Unfortunately, myopic views of MAGA is perhaps more about individuals than the country.
My issue with this is Trump bragging that he created jobs when others couldnt.
His job creation lags behind Obama. Maybe in the future it will surpass Obama but it didnt in 2017. Just stop lying trump.
John,
This is a rather arcane topic, and yet, you found a way to politicize it.
Congratulations.
Jobs data is affected by a host of variables, so attribution is not always easy. But to you, this is just a layup. BTW, where did you get your MBA? I'd be curious to know.
John isn't the one politicizing it, Trump is:
Donald J. Trump
✔
@realDonaldTrump
The African American unemployment rate fell to 6.8%, the lowest rate in 45 years. I am so happy about this News! And, in the Washington Post (of all places), headline states, “Trumps first year jobs numbers were very, very good.”
5:49 AM - Jan 6, 2018
Donald J. Trump
@realDonaldTrump
The Stock Market has been creating tremendous benefits for our country in the form of not only Record Setting Stock Prices, but present and future Jobs, Jobs, Jobs. Seven TRILLION dollars of value created since our big election win!
12:42 PM - 7 Jan 2018
Oh and BTW, there have been multiple seeds over the last month about data on job creation and unemployment so, at least @ this site, this is NOT an 'arcane topic'.
As I recall, you and John are daily, vociferous critics of Trump.
And yet, you mimic one of his awful qualities.
Ponderous....
I wasn't critiquing Trump. I was critiquing the content of your comment with Trump's own words.
Your comment mimics another of his 'awful qualities', obfuscation.
Jonathan, Trump has often said he has created jobs like no president before him. That is not true, and it's not even true about his immediate predecessor.
He should stop lying.
Not being an anarchist like you are, I am not as drawn to fake news , and as likely to give Trump a pass for constant lying, as you are.
The facts don't appear to agree with you.
Ironically, you seem triggered by his trigger.
Did someone twist your fin and make you read and post in this seed?
Trump said the BLS numbers were 'FAKE' in 2016 but they're accurate now.
But since the freaking metrics haven't changed from 2016 to 2017 the BLS data is 'in context'.
Did you say that to the benefit of Obama too? lol