As you can see, under George W Bush, the labor rate dropped from 67% to 66% in 8 years, while under Obama it dropped from 66% to 63% in 5 years.
|Labor Force as percentage of US population, 1948 to 2014|
2008 66% --> 1/67 = 1.5% 1.49% / 8 = 0.19% per year
2014 63% --> 3/66 = 4.5% 4.54% / 5 = 0.91% per year
Under Obama, the employment rate dropped 3 times as much and in 5/8th time. So, the rate dropped 4.79 times faster.
0.91 / 0.19 = 4.79
From memory, the US had 289 million "residents" officially on Apil 1st of 2000 (I know, I worked the Census that year, and we counted all legals and illegals). By 2014 I had been hearing the US had 315 million residents for some time.
67% of 289 million = 193.6 million jobs
63% of 315 million = 198.5 million jobs
That's just under 5 million added jobs. Immigration accounts for more than 5 times that, because citizens are having children at a rate of 1.8 per couple, thus decreasing the native population (from what I saw on PBS). This definitely is NOT the late 1800's or early 1900's, when industrialization added so many jobs to the US we allowed immigration on a grand scale.
Lately it appears that the fastest rate of job growth was the late 60's, the 70's and the 80's. Who was President then?
1965 - 1968 Lyndon Johnson, Democrat
1969 - 1976 Richard Nixon/Gerald Ford, Republican
1977 - 1980 Jimmy Carter, Democrat
1981 - 1988 Ronald Reagan, Republican
1989 - 1992 George H, W, Bush, Republican
And Congress was Democrat the whole time, so that can't be a factor in and of itself (you have to look at legislation and it's effects).
But, is "women's lib" responsible for the growth starting in the mid 1960's? Women entering the work force? So I've heard.
And I'm sure there are a million other factors, such as the 35% tax rate on corporations that drove jobs out of the US. There was NAFTA, the North Atlantic Free Trade Agreement, in the 1990's, which also drove jobs out of the US.
|GDP per capita in the US|
The housing bubble burst and stock market crash of 2008 also had an effect on the economy and jobs. But the downward trend didn't slow down. This could be caused by Obama's anti-energy agenda and his trillion dollars of extra spending each year, much of it on welfare and now health care.
So, what happens when you give people free rent, food, energy bills, cell phones and helth care? Well... ask them. They say they only work part time, or less, when they need to make $50 to pay the bit of rent the government doesn't pay.
And what happens when you limit coal and oil through anti-energy legislation? Well, every dollar you earn is from energy. Try going a month without fossil fuels. Will you walk to work? Will you sail to Hawaii for your pineapple? Will you saw down a tree by hand to build your house? Will you lift a truck load of asphalt to pave a road? No, no, no and no. But, if you did, you'll never keep up with machines, and the Gross Domestic Product would go WAY down.
GDP seems to take a temporary hit when fossil fuel prices go up. However, the economy recovers. But when fuel prices go down, the GDP takes a quick jump up. The economic booms of the 1980's and 1990's coincided with a drop in oil prices. Coincidence? I don'tthink so.
Anyway, my point is, there are many factors involved in the economy, GDP, and job growth or loss. From the price of fuel to natural disasters to federal polcy to social change, it all factors in.
And the White House always takes credit, but never takes the blame.