If you want a job, to keep your job or get another job, you should vote Democratic and vote Democratic often.
That may sound like a partisan line, but actually it’s the logical conclusion based on…. arithmetic (as former President Bill Clinton emphasized at the Democratic convention) in a fascinating new report by The New York Times.
The report shows that under Democratic presidents since 1957, private sector job growth grew at an annual rate of 2.48 percent vs. just 1.02 percent under Republicans. That means the odds of advancing your career have been more than double under a Democratic president during the last 55 years.
Just compare the most recent Democratic and Republican presidencies: Obama vs. Dubya.
Despite inheriting the worst economy since the Great Depression, private sector job growth rose in President Barack Obama’s first term at an annual rate of 0.10 percent. But private sector jobs actually fell during President George W. Bush’s first term, and rose at an annual rate of just 0.06 percent in his second term.
Still not convinced? Look at the top five BEST presidential terms for private sector job growth since 1957 (note: all but Reagan are Democrats):
- Lyndon B. Johnson (1965-1968) +3.62
- Jimmy Carter (1977-1980) +3.28
- Bill Clinton (1993-1996) +2.85
- Ronald Reagan (2005-2008) +2.80
- Kennedy/Johnson (1961-1964) +2.42
Now look at the top five WORST presidential terms for private sector job growth in the same period (note: all but Obama are Republicans, Obama having inherited the worst economy since the Great Depression; also, notice the name Bush is mentioned three times here!):
- George W. Bush (2001-2004) -0.21
- Dwight Eisenhower (1957-1960) -0.08
- George W. Bush (2004-2008) +0.06
- Barack Obama (2009-2012) +0.10
- George H.W. Bush (1989-1992) +0.41
By the way, job growth in the public sector job growth is also generally higher under Democratic presidents, although not so much since Carter. Click here for the full story and the stats.
Steve Frank