In August of 2007, just before the recession of the Bush administration began, the unemployment rate sat at a low and manageable 4.6 percent. Immediately afterward, the jobless rate skyrocketed and the U.S. economy entered a recession that left the country in dire straights. Such was the state of the union when President Obama entered office in January of 2009.
Since then, President Obama has proven to be the most successful jobs president in history, overseeing a record number of consecutive months of job growth at 78 months.
Image screengrab via PolticsUSA
Despite record job growth since 2010, two years after President Obama took office, the unemployment rate crept up too slowly to match the pre-recession rate of 4.6 percent. With 178,000 jobs added in November, the Obama administration can truthfully say that policies under President Obama have successfully and fully reversed that economic freefall as the unemployment rate stands once again at 4.6 percent.
MSNBC producer Kyle Griffin reminded the country in September of 2016 of the enormous accomplishment by President Obama, who became officially the most successful jobs president in history that month.
U.S. Unemployment Rate
Aug 2010: 9.5%
Aug 2011: 9.0%
Aug 2012: 8.1%
Aug 2013: 7.3%
Aug 2014: 6.2%
Aug 2015: 5.1%
Aug 2016: 4.9%
— Kyle Griffin (@kylegriffin1) September 2, 2016
With a rate of job growth at more than the 80,000 per month necessary to maintain a stable unemployment rate, President Obama will more than likely be able to say by the time he leaves office next month that he left the economy in better shape than it was even before President George W. Bush destroyed it with unnecessary wars and no tax increase to cover their cost.
As Obama hands President-elect Trump a growing economy, Trump faces a specific challenge as he enters office next month.
‘Beneath these broad brushstroke trends, the election provided a dramatic demonstration that not everyone has personally experienced the benefits of the economic recovery which began in 2009. Addressing that divide is the huge challenge facing President-elect Donald Trump.’
How Trump will handle a wage gap and an economic divide from which he personally has profited from throughout his life remains to be seen. If his opening move with Carrier is any indication of what the future of the jobs market holds, the outlook is not hopeful.
Featured image screengrab via Getty/Paul Morigi