The nation's economy has nearly 79,000 fewer private-sector jobs than when President George W. Bush took office.
During the last full month before Bush took office in January 2001, the unemployment rate was 3.9 percent. In March 2005, the official U.S. unemployment rate was 5.2 percent—representing 7.7 million unemployed workers. The manufacturing sector has lost nearly 3 million manufacturing jobs since January 2001.
What’s more, the 7.7 million officially unemployed represents only about 57 percent of all U.S. workers—approximately 13.6 million, according to the U.S. Bureau of Labor Statistics—who are either unemployed, underemployed in part-time jobs out of economic necessity or who have become so discouraged that they have given up looking for work.
After the official end of the last recession in March 1991, the nation embarked on nine straight years of solid job growth. But although this recession officially ended in November 2001, jobs are coming back only slowly, economists say, because companies are sending well-paying manufacturing—and now white-collar—jobs to countries with few, if any, protections for workers and the environment. And these jobs probably aren't coming back anytime soon unless the Bush administration, Big Business and their congressional allies reform the trade and tax policies that encourage employers to send jobs offshore.
The Bush record since January 2001.
Bush headed toward worst record for job growth in 70 years.
The crisis in manufacturing: Lost jobs, January 2001-January 2005.
America's middle class under attack.
Find out more about jobs, wages and the economy.
The Bush Record Since January 2001
The number of unemployed and underemployed persons
has jumped by 28 percent since January 2001. |
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| Source: U.S. Department of Labor, Bureau of Labor Statistics. Marginally attached persons wanted and were available for work and had looked for work sometime in the past 12 months but are not counted as jobless and in the labor force because they have not searched recently. |
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Job Growth Under Bush Worst in 70 Years
(Average Monthly Growth in Total Employment During Presidency) |
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Source: U.S. Bureau of Labor Statistics |
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Source: U.S. Bureau of Labor Statistics
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