This is something I hear a lot, in fact this was brought up in a discussion I was having yesterday. And to be honest, when you look at unemployment numbers over the years... well...
2008: Last year of the Bush Jr. Presidency. Unemployment was at 7.3, up from 5.0 the previous year.
2009: Obama takes office. 9.9% unemployment. Side note, jobless benefits were extended this year. No idea if that would have any impact on the numbers.
2010: 9.3%
2011: 8.5%
2012: 7.9%
2013: 6.7
2014: 5.6
2015: 5.0
2016: 4.7
2017: Trump takes office. 4.1%
2018: 3.9
It's a little hard for me to dispute, I mean, as much as it annoys me when people insist nothing good is because of trump, the data seems to support their argument. As bush left office, unemployment was bad and climbing. While Obama was in it fell continuously. Once trump got in it continued on that trajectory.
So... am I missing something? Also, why did Obama say a sub 4% unemployment rate was impossible when he was almost there?
Obama said 4% was impossible because he was a terrible president and should have been tried for treason for some of the shit he pulled to advance his agenda and enshrine "muh legacy".
now, giving maximum fairness to Obama, he was handed a shit sandwich with the housing crisis and the 2007 oil crunch. But he didn't do anything worth while to try to fix it, instead focusing on playing identity politics, sheltering political allies & general rent seeking, sending aid to any person who wasn't American, and giving health insurance companies an open runway to fleece the entire US population.
Unemployment under Trump has dropped to historic lows for a few reasons:
First, illegal immigrants have left, fearing his deportation rhetoric. This can't be discounted. I forget the numbers, but its a hundred thousand or so jobs that now have to be filled by reporting citizens.
Second, the 'gig economy'. You have people marginally employed by Amazon/uber that you didn't really have with Obama.
Third, perception of Trump. Trump is perceived as pro-business and general optimism. Obama was doing everything he could do to weaken America and strengthen the "global community"; there is no reason to invest in American industry when the leadership is making it easy to ship your operations oversees. Trump is viewed as business friendly. Investors are more willing to part with their dollars on ventures, because they're now viewed as less risky. This combined with Trump's pledges to make it harder to operate internationally and sell locally mean that starting or expanding domestic operations is a smarter and safer move than ever.
I guess tl;dr is that it is true the unemployment isn't under a president's direct control, they influence perception (e.g. investor confidence) and so they can influence it.
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