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Cross-posted at Comeback Decade

Today’s jobs report reveals that more than 8.5 million jobs have been created in the private sector since Obamacare was enacted in March 2010, a dramatic turnaround from the loss of 3.6 million private-sector jobs in the decade before Obamacare.

Chart: 3.6 million private-sector jobs lost in the decade before Obamacare compared to 8.5 million created in the 47 months since Obamacare enacted.
(data source)

Today’s positive report could prove particularly awkward for Speaker John Boehner, who seemed to be hoping for bad news to save the Republicans’ increasingly implausible “job-killing” talking point:  


You must enter an Intro for your Diary Entry between 300 and 1150 characters long (that's approximately 50-175 words without any html or formatting markup).

Yesterday: Boehner Talking Down the Economy

Tomorrow we’re going to get another jobs report and it’s expected to be disappointing – again.  The truth is, Americans don’t need a new report to tell them what they already know.  This is not what an economic recovery feels like….

One of the things that weighs down this economy is the president’s health care law.

Today: Positive Jobs News
The U.S. economy added a solid 175,000 jobs in February, despite harsh winter weather that many analysts expected would curtail hiring, according to government data released Friday morning….

A major snowstorm hit much of the eastern United States just before Valentine’s Day, when the government was surveying businesses about their hiring plans. That was expected to throw a wrench in February’s data, yet it still beat Wall Street’s expectations.

A closer look at the monthly jobs numbers shows how America went from losing nearly 800,000 private-sector jobs a month at the end of the last Republican Administration to gaining jobs again within a year of President Obama signing the 2009 Recovery Act (the Stimulus). And since the President signed the 2010 Affordable Care Act (Obamacare), the economy has been creating an average of 180,000 private-sector jobs a month:
Chart: Average Monthly Private Sector Jobs: From losing nearly 800,000 jobs per month in January 2009 to gaining jobs by early 2010 to averaging 180,000 per month since Obamacare enacted.
As a result of the comeback in the jobs market, the unemployment rate has dropped by more than 3 percentage points under Obamacare, from 9.9% to 6.7%:
Chart: Unemployment rate drops from 9.9% before Obamacare to 6.7% today.
Correction: The initial version of this post mistakenly stated that 3.8 million private-sector jobs had been lost in the decade before the enactment of the Affordable Care Act. The correct number is 3.6 million.
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