From the Right

Observing my upside down America

Unemployment rate over last 25 years

with 6 comments


A little graph

Unemployment

Source: Bureau of Labor Statistics. US Senate.

A few statistics

Selected statistics at the end of 2006 (last year Republicans controlled both houses of Congress):

Unemployment rate: 4.4%.
Previous year of GDP growth: +2.4%.
Previous year of job growth: +1.6%.
S&P 500: 1418.

Same statistics, most recently (after almost 3 years of Democrats controlling both houses of Congress):

Unemployment rate: 9.8%.
Previous year of GDP growth: -3.8%.
Previous year of job growth: -4.2%.
S&P 500: 1080.

Source: Bureau of Labor Statistics, St. Louis Fed/FRED (GDPC96 and PAYEMS series), Yahoo Finance.

A Quote

“By any measure, my administration has inherited a fiscal disaster.”
President Barack Obama.

A little analysis

We’re doomed.

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Written by Ben

October 23, 2009 at 3:39 pm

Posted in Politics

Tagged with

6 Responses

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  1. Amazing, just the opposite of what the MAINSTREAM meadia wants us to believe. Hard to argue with the statistics produced by the government though!

    Bruce

    October 23, 2009 at 8:50 pm

  2. Can we vote now please?
    2010. Looking forward to Nov 2, 2010.

    BTW, well done! Hope you don’t mind, I added you to my blogroll.

    Shameless promotion: http://oldhardhead.wordpress.com/

    oldhardhead

    October 29, 2009 at 11:08 am

  3. No problem. You are always welcome here. I will pay a visit from time to time as well.

    Ben

    October 29, 2009 at 12:30 pm

  4. At first glance, you’re right, the trend is striking. But… I found at least 3 major problems with these “facts”.

    1) Questionable premise: If you map that same data against the sitting president at the time, you get an even more striking trend in the opposite direction, showing unemployment going down consistently under democratic presidents, and going up dramatically under republican presidents. Meaning, that your interpretation of this data is ENTIRELY dependent on the opinion that the economy results from the actions of the senate, and not the president. http://www.bizinformer.com/50226711/news_flash_democrats_create_jobs_twice_as_fast_as_republicans.php

    2) Questionable data collection: Whoever collected this data picked the time period in a HIGHLY questionable manner. Why do you think the data starts at 1983, even though republicans took over the senate in 1981? It is because there was a massive increase in unemployment between 81 and 83, which the researcher conveniently omitted to support his claim. That is BAD SCIENCE!

    3) Questionable conclusion: Unemployment rates lag BEHIND the economy. NOT the other way around. In almost every case during the period of that data, the economy crashed BEFORE unemployment started rising. So instead of blaming the party in control during the rise in unemployment, it is more accurate to blame the party who was in control right before the crash. And, if you look at that same chart again, you will see that in the second two periods where the Republicans ran the senate, the economy essentially crashed right at the end of the Republican senate (which is probably why Americans voted in Democrats)… Leaving the Democrats to deal with the resulting consequence of subsequently increasing unemployment. And all cases where that Democrats took over the senate, they were able to fix the economy and reverse the trend of unemployment.

    jonkatz

    April 2, 2011 at 7:42 am

  5. @jonkatz

    At second, third and fourth glance he’s right. The current Obama administration is destroying the country. No amount of data manipulation can disguise that fact.

    DonB

    October 13, 2011 at 1:54 pm

  6. Proof that figures don’t lie, but liars figure.

    Jon Patrickp

    January 10, 2012 at 11:31 pm


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