Graph for the Day for September 22, 2010

"And I think we have to go back to what was happening when I was first sworn in as the 44th President of the United States. We went through the worst recession since the Great Depression. Nothing has come close. In fact, if you look at the consequences of the recession in the ‘80s, the recession in the ‘90s, and the recession in 2001, and you combine all three of those, it still wasn't as bad as this recession that we went through.

So the month I was sworn in we lost 750,000 jobs; the month after that 600,000; the month after that 600,000. This is before any of our plans had a chance to take effect."  President Obama, September 20, 2010.

The Jobs Timeline

Source:  St. Louis Fed/FRED for underlying graph.  Event identification by author.

Hoven's Index for September 22, 2010

Net jobs gained during GOP Congress fiscal years (Oct. 2003 to Oct. 2007):  7,625,000

Net jobs lost during Dem Congress years (Oct. 2007 to Aug. 2010):  7,442,000

Change in net jobs since recession ended (Jun. 2009 to Aug. 2010):  -329,000

Change in net jobs in "Recovery Summer" (May to Aug. 2010):  -283,000

Source:  St. Louis Fed/FRED.

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