The First-Term Economic Records: Bush vs. Obama

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Sources: U.S. Bureau of Labor Statistics, U.S. Bureau of Economic Analysis, U.S. Treasury Department, U.S. Department of Agriculture, U.S. Social Security Administration

JOBS - At the end of President Bush’s first term, total non-farm employment in the U.S. consisted of 104,000 fewer jobs than when he took office in January 2001. At the end of President Obama’s first term, total non-farm employment in the U.S. consisted of 970,000 fewer jobs than when he took office in January 2009.

UNEMPLOYMENT - At the end of George W. Bush’s first term the U-6 unemployment rate was 9.3 percent, up from 7.3 percent in January 2001. At the end of President Obama’s first term, the real unemployment rate, meaning the number of unemployed or underemployed Americans, was 14.4 percent or 23 million people, up from 14.2 percent in January 2009.

DURATION - During President Bush’s first term, the average duration of unemployment was 17 weeks. During President Obama’s first term, the average duration of unemployment was 34 weeks.
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