Unemployment During President George W. Bush’s Two Terms

With the news out today that the monthly unemployment rate had “fallen” to 9.7 percent, I decided to look back at the monthly figures for President George W. Bush’s two terms at the White House. The numbers are revealing. The highest monthly average prior to the late 2008 financial crisis was 6.3 percent. His overall monthly average was 5.3 percent.

Here’s the chart (click to enlarge):




UPDATE: Today’s POLITICO Arena question was “Will tepid job growth hurt or help Dems in November?” Below is my response, which can also be seen here.

Incumbent Democrats may be the only people finding satisfaction in the fact that the federal employee rolls grew by more than 400,000. These government jobs accounted for 95 percent of the jobs created this month. As for as the unemployment rate “falling” to 9.7 percent, context is important. Prior to the credit market freeze in September 2008, the highest monthly unemployment rate during President George W. Bush’s two terms was 6.3 percent. The overall average monthly unemployment rate during his 8 years in office was 5.3 percent. The tax relief President Bush signed into law pulled America out of the recession he inherited in 2001 and spurred six years of uninterrupted economic growth and a record 52 straight months of job creation.

President Obama’s policies to deal with economic challenges have been diametrically opposite to his predecessor’s. Obama’s higher taxes, job-killing government intervention and massive deficit spending have sent us down a destructive fiscal path. His policies have failed based on his own yardstick. President Obama has not held unemployment under 8 percent as his administration promised would happen if the massive $787 billion government spending package was adopted by Congress.

This entry was posted on Friday, June 4th, 2010 at 9:41 AM and is filed under Media, Politics. Both comments and pings are currently closed.

4 Responses to “Unemployment During President George W. Bush’s Two Terms”

  1. Nicholas Worden Says:

    After reading this article, I believe I have found the dumbest man on the planet! I say, and it’s a quote from your article, “The tax relief President Bush signed into law pulled America out of the recession he inherited in 2001 and spurred six years of uninterrupted economic growth and a record 52 straight months of job creation”, is the most hilarious statement I’ve read or heard since Greg Giraldo told Flava Flav that he looked like a skeleton wrapped in electrical tape! You need to check the library of congress before you post lies, but coming from a republican, I would expect only lies! You need mental therapy, and it should be soon!

  2. Trine Compian Says:

    Yes, but what you failed to acknowledge was that the unemployment rate had been rising since April of 2008 and during President Obama’s first month of office, the unemployment rate was at 7.7%. Wow, his policies sure took effect quickly.

    Also, as for the “recession” that he inherited in 2001, he must not have felt too much pressure with the unemployment rate being 4.2%, a balanced budget, and a 300 million dollar surplus. Unfortunately, due to his lackadaisical view on life, he had the nation in debt just two years later. Eventually, the Bush policies produced over $5 trillion dollars in debt while the Obama policies produced only $1.4 trillion dollars in debt.

    Finally, do you not blame the do nothing congress at all for their job killing and president defeating antics.

    If you are going to be a writer in politics, please try to be unbiased. Otherwise, you are just noise.

  3. Al Says:

    This is false. There was no recession under Clinton. The recession was from GWB SR. Clinton paid down the natiron debt, dismantled the Welfare system and reduced it from 12% to 3%, and raised the stock market to 10.
    Bush JR, dropped the stock market to 8. Unemployment nearly doubled, 50% of the population dropped below the poverty line, and the debt ceiling met the first 10 trillion mark. Infrastructure was abandoned, national parks closed, and no child left behind has given us a generation of teenagers who CAN NOT READ. Republican bloggers must think everyone is stupid. Actually look this stuff up for once. And use honest sources, not faire tails.

  4. Logic Bomber Says:

    What recession did Bush inherit in 2001? As I recall, Clinton left a national SURPLUS that reached $236.2 billion at its peak in 2000. Bush, Jr put us in the hole $412.7 billion by 2004*. Clinton did that by increasing taxes on the upper income earners in the country. Bush completely one-eightied that (and then some) by decreasing those taxes. And Obama’s policies didn’t fail; they were altered and bastardized by obstructionist Tea Partiers who were determined to see Obama fail. They actually went on national television when they ran for Congress and said that their platform was “to oppose any legislation proposed by Obama”. You have an extremely short memory, Mr. Stanzel.

    *source: CBO