Trump Has Created 1.5M Fewer Jobs Than Obama Did In His Last 3 Years In Office
President Donald Trump created 1.5 million fewer jobs in his first three years in office than Barack Obama did in his final three, a statistic he never boasts about, according to HuffPost.
Newly revised figures from the Department of Labor reveal that 6.6 million new jobs were created in Trump’s first 36 months as president, compared to 8.1 million in the last 36 months of Obama’s, a reduction of about 19 percent.
“I’m not a big fan of jobs numbers as a metric of success,” said Douglas Holtz-Eakin, a former top economic adviser to the late Arizona Sen. John McCain’s 2008 presidential campaign. He added that Trump’s “hyperbole” notwithstanding, “the performance of the labor market has been nothing short of stunning.”
David Rothschild, an economist with Microsoft Research, said Trump is presiding over a decent job market, just as Obama did. “The economy is basically humming along for the last three years, just as it was for the last several years of the Obama administration,” he noted.
In his State of the Union speech last week to Congress, Trump said: “If we hadn’t reversed the failed economic policies of the previous administration, the world would not now be witnessing this great economic success.”
“He’s largely riding trends he inherited,” Jared Bernstein, the former chief economist to former Vice President Joe Biden, said.
Yet, Bernstein and other economists have pointed to the nation’s gross domestic product, which has now dropped closer to 2 percent, which they argue could be attributed to the U.S.-China trade war that Trump started in mid-2018.
“There are markets we’re probably not going to get back, and we’re going to have nothing to show for it,” Rothschild said. “The economy is moving along pretty well despite the best efforts of Donald Trump.”