|Job loss/gains under Bush & Obama (via Steve Benen)|
As Kevin Drum has frequently pointed out, another statistic that needs to be adjusted is the number of jobs gained (or lost) in any given month. As he reminded us again yesterday, the economy needs to generate 150,000 jobs each month just to keep up with population growth. I remember Democrats pointing that out during the Bush years, but these days, not so much.
Today, Drum helpfully refigures Steve Benen's monthly jobs chart, reproduced above, into accounting for how far above or below 150,000 each month's figure is. Thus our economic recovery actually looks like this:
|Job loss/gains above 150,000/month (via Kevin Drum)|
I'd like to be able to complain that one party believes in cutting jobs during a recession, while the other believes in spending what it takes to restore full employment. But if you ask Jared Bernstein, who just left the White House, he'll tell you they've pretty much given up on any more stimulus to the economy.
So where does that leave us? I don't know about you, but this is really beginning to piss me off.