Jobs: Reagan versus Obama

Stephanie Cutter, President Obama's deputy campaign manager, recently boasted to Willie Geist of MSNBC that, from an employment perspective, the recovery of the economy under President Obama compares favorably with the Reagan recovery.  Her claim seemed adequately outlandish to warrant comparing the two recoveries based on two criteria of central importance to the American people: the net number of new jobs created and the change in the number of people of working age who are either unemployed or not in the workforce (and therefore not counted as unemployed). In each case I used unadjusted data from the Bureau of Labor Statistics from the month which was the trough of the recession experienced at the beginning of each President's term of office.  Those months were January 1983 and January 2010.  I then compared that data to the identical data from January of 1989 and July of this year.  The results are as follows. The Reagan recovery, encompassing a period of 72...(Read Full Post)