As we all know, Trump has promised to bring back jobs from China, Mexico, Japan, etc. and make America great again. Voters seem to agree that Trump would be better for the economy and jobs because according to the latest CNN/ORC poll, they favor Trump 51% to 43% over Clinton on the economy. The rationale is that as a businessman, Trump understands the economy better.
Trump has advocated the usual Republican economic proposals: tax cuts for corporations and the wealthy that will “trickle down” to the rest of us in the form of new investments and job creation, plus deregulation of markets to free up entrepreneurs who will create and expand businesses.
But what is the actual record of job creation comparing Republican presidents to Democrats? Anyone can talk about creating new jobs, but which party has actually done it over the years? Well the truth is plain to see when we look at the real record of job creation in private industry, leaving aside government jobs.
During Pres. Obama's administration more than 10,000,000 new private sector jobs have been created which is nearly 10 times the number created during the last 2 GOP presidencies combined. During Pres. Clinton's administration, twice as many private sector jobs were created as during Obama's administration.
The score is: last 2 Dem presidents - 31,000,000 private sector jobs;
last 2 GOP presidents - 1,000,000 private sector jobs.
But what about the longer term? Going back to the end of World War 2 - Sept., 1945, when Japan surrendered – the period consists of 35 years of Democratic presidents (as of 9/16) and 36 years of Republicans, evenly interspersed. The results are clear:
63,000,000 private sector jobs under Dem presidents
26,000,000 private sector jobs under Republicans
Only Republican President Reagan created more than 10,000,000 jobs, while Democrats Truman, JFK/LBJ, Clinton and Obama all surpassed that number and Carter hit 9,000,000 private sector jobs in just 4 years. fred.stlouisfed.org/…
So while Republican presidents have created far fewer than 1 million private industry jobs per year, Democrats have created nearly 2 million jobs and the contrast over the past 27 years is simply astonishing — Republicans have been abject failures while Democrats have cleaned up their mess and actually made Americans successful. The “trickle down” economy and unregulated markets have been a dismal failure.
As a final note, Real Median Weekly Wages and Salaries have just hit an all time high and are rising. fred.stlouisfed.org/… Under the last two GOP presidents they fell.
