Wednesday, September 19, 2012

Guess which President has the longest streak of 8% unemployment since the Great depression

It's Obama!
( – Excluding January 2009, the month when Barack Obama was inaugurated, unemployment has stayed above 8 percent, which is longer than under any other administration since the Bureau of Labor Statistics (BLS) started measuring the monthly jobless rate: Over 8 percent for 43 months during Obama compared to a total of 39 months above 8 percent between 1948 and 2008. 
Over the course of 50 years, the unemployment rate in the United Stateswas above 8 percent for a total of 3 years and 3 months; under Obama alone, the rate has been above 8 percent for 3 years and 7 months. 
Also, no other president presided over three consecutive years of average annual unemployment of more than 8 percent before Obama, according to the BLS data. 
The rate was above 8 percent throughout 1975, under President Gerald Ford, and throughout 1982 and 1983, under President Reagan. However, the rate went to 7.8 percent in February 1984 and continued to fall steadily under Reagan – at the end of his second term in 1988, unemployment was down to 5.3 percent. 
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1 comment:

Ric 'The Turtle' Ryan said...

Beings it is often said this recession is the worst since the Great Depression. So in all fairness it should be compared to the Great Depression and the rate was above 8% for about 8 years back then. As a history nut I figure the rate will start up again in November and we will be lucky if it peaks at 25% as it did in the Great Depression. Just saying.....