Friday, July 02, 2010

Obama administration beats Reagan hands down on unemployment

The recession of 2008-2010 is acknowledged by economists and politicians alike as having been by far the worst recession since the Great Depression of the 1930's. President Obama and his administration have been attacked for having high levels of unemployment as a result of this recession. Yet when we look at the record, we see that the policies of the Obama administration have kept unemployment rates far lower than those that occurred during the middle of Ronald Reagan's first term, during what everyone acknowledges was a far less severe recession.

Under Reagan unemployment rates rose higher and stayed there for longer than under Obama. Here's the data from the Bureau of Labor Statistics.

Ronald Reagan, President
Recession of 1982-83



Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1982
8.6
8.9
9.0
9.3
9.4
9.6
9.8
9.8
10.110.410.810.8
198310.410.410.310.210.110.1
9.4
9.5
9.2
8.8
8.5
8.3

Total number of months unemployment was above 9% under Reagan was 19, number of months unemployment was above 10% under Reagan was 10 months.


Barack Obama, President
Recession of 2008-2010

YearJanFebMarAprMayJunJulAugSepOctNovDec
20097.78.28.68.99.49.59.49.79.810.110.010.0
20109.79.79.79.99.79.5------

Total number of months unemployment was above 9% under Obama so far has been 14, number of months unemployment was above 10% under Obama was only 3 months, less than one-third the number of months above 10% under Reagan.


3 comments:

Lyrics and Soul said...

Excellent data...Thanks

Lyrics and Soul said...

excellent data...Thanks (I think they are giving Mr. Obama a real bad name. He really is doing a good job, considering the mess we're in!!!)

Sue said...

It is now many months later, and above 9 percent unemployment has lasted much longer in 2009-2011 than it did under Reagan (although 10 percent and higher has not).