President Trump bragged about his job creation on April 9th, as reported by CNN
“We’ve created over 600,000 jobs already over a very short period of time and it’s going to really start catching on now,” Trump said Tuesday at the White House, flanked by his top advisers and the CEOs who are members of his Business Advisory Council.
But if we plot the Average Civilian Work Force for the 1st quarter of 2010 – 2017 we get a different picture, focusing on the trend (red) for 2014 – 2016, we find the 2017 value significantly below the projected value. To use the beltway buzz word, the curve has bent downward when we want it to bend upward.
Likewise President Obama frequently boasted of his job recovery, if we use the same metric we find a 10M job deficit compared to the 1979 – 2008 trend line. Yes his growth rate was close, but not equal, to the ’79 – ’08 rate. But, there was no recovery.