The underemployment rate was 13.7 percent in December 2016.
The U-6 Unemployment rate (which is more accurate than than self-serving lies of the U-3) is 9.2%.
There were 5,669,000 Americans working part-time in November who would rather have a full-time job but cited economic reasons for not having such employment.
Obama touts that he created 10 million jobs over his 2 terms, but Obama’s own former economic advisor Alan Krueger says that 95 percent of the jobs that were counted in that number were temporary or part time.
Lowest Labor Participation Rate since President Nixon. Population 1973: 212 Million 2016: 324 Million.
The final jobs report of the Obama presidency, released Friday, shows that the number of Americans not in the labor force has increased by 14,573,000 (18.09 percent) since January 2009, when Obama took office, continuing a long-term trend that began well before Obama was sworn in.
In December, according to the Labor Department’s Bureau of Labor Statistics, a record 95,102,000 Americans were not in the labor force, 47,000 more than in November; and the labor force participation rate was 62.7 percent, a tenth of a point higher than in November.
The participation rate dropped to a 38-year low of 62.4 percent on Obama’s watch, in September 2015. It was only 3-tenths of a point higher than that last month.
Press Secretary Josh Earnest recently claimed that 805,000 manufacturing jobs were created under President Obama. The truth is Obama presided over a LOSS of 303,000 manufacturing jobs from the start of his presidency in January 2009. Earnest cherry-picked data from 2010 to create his own number.
We have record highs of Americans out of the work force, and near record low rates of Americans participating in the work force. Heckuva job, Obama!
YOU DID BUILD THAT!
For George W. Bush’s last year in office in 2008 the deficit was the highest it had ever been at $460 billion – but 7 of Obama’s 8 years in office have exceeded that number. When Obama came into power in 2009, the deficit more than tripled from the previous year’s record to $1.41 TRILLION!!! 2015 saw the lowest deficit in Obama’s tenure and it was $440 billion, just below Bush’s highest. For 2016 the deficit is projected to go back up to $620 billion. (Source for all these numbers.)
According to Investopedia, Obama holds the record for the largest total deficit:
Barack Obama’s budget is projected to run a deficit of $7.3 trillion over his eight years, making him the president with the largest budget deficit. George W. Bush is second, with a deficit of $3.29 trillion over his eight years. Ronald Reagan is third at $1.412 trillion deficit in eight years and George H.W. Bush comes in fourth with a $1.03 trillion deficit in his single term.
Which brings us to the national debt…
On the day President Obama was sworn into office (January 20, 2009) the national debt stood at an historic high of $10.6 trillion dollars. As of January 5, 2017, Obama has almost doubled the debt to an astounding $19.9 trillion.
Remember when candidate Obama said in 2008 that 43rd President George W. Bush was “driving up our national debt from $5 trillion for the first 42 presidents. Number 43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.”
Well, Obama drove up our national debt from $10.6 trillion for the first 43 presidents, and number 44 added over $9 trillion all by his lonesome – as of January 5, 2017, Obama has almost doubled the debt to an astounding $19.9 trillion that we are going to have to pay back – over $61,000 for every man, woman and child, and over $166,000 per U.S. taxpayer, according to the U.S. National Debt Clock on January 7, 2017. How irresponsible and unpatriotic is that?!
YOU DID BUILD THAT!
The number of food stamps recipients went up by 10.7 million people, a 32 percent jump, since President Obama took office in 2009, according to data released by the Department of Agriculture (USDA).
In 2009, 33,490,000 people received food stamp benefits. As of October 2016, the last month reported for FY 2016, 44,219,123 people received food stamp benefits, an increase of about 10,729,000.
The U.S. population as of October 1, 2016 was 324,607,826, according to U.S. Census Bureau estimates. Therefore, the 44,219,123 people on food stamps represented 13.6 percent of the population.
The cost of food stamps to taxpayers also increased over the time Obama was in office. As of 2009, all food stamp recipients received up to $50.3 billion in benefits. As of 2016, that number has increased to $66.6 billion, an estimated increase of $16.3 billion.
The average monthly benefit for food stamp recipients, however, remains almost unchanged. In 2009, food stamp recipients received an average monthly benefit of $125.31, while in 2016 they received $125.51.
YOU DID BUILD THAT!