Welcome to VoteFacts. In this video, we can hear former President Bill Clinton saying:
"In 2010, as the president's recovery program kicked in, the job losses stopped."
(You can view the video in its entirety by dragging the start button backward)
We're going to look at the Bureau of Labor Statistics (BLS) data to help you focus on the facts of job losses in the United States since the onset of the economic stimulus that passed in February of 2009. In an older VoteFacts post, we also provided you with the opportunity to vote on whether or not you think the costs were worth the benefits when it comes to the economic stimulus.
But for today's post, did the job losses stop in 2010, after the economic stimulus kicked in? Here is your BLS data:
As you can see from the BLS data, even after the stimulus, in 2010 the economy was shedding jobs during the months of May through September of 2010. Since October of 2010, however, jobs have been added every month. Although, the pace of growth may be concerning, according to the Congressional Research Service:
• Monthly gains have been consistently positive since late 2010, but often not at a scale characteristic of a strong recovery. Recent months have seen employment gains steadily falling, down from 275,000 workers in January 2012 to 115,000 workers in April 2012 (77,000 in May; 45,000 in June, 141,000 July). CRS, Page 4
• Although aggregate employment began to rise after September 2010, the monthly increase in jobs has been too small to have had much of an effect on the U.S. unemployment rate. A commonly cited rule-of-thumb is that in order to keep pace with population growth a net increase of roughly 125,000 jobs per month is needed to keep the unemployment rate unchanged. CRS, Page 2It's time for you to be the judge - Fact or Fiction - The job losses stopped in 2010.