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Post-WWII Job Creation
Job creation figures heavily into the final measure of a President's economic policy. Job creation increases economic growth via a feedback mechanism. New workers increase consumption and tax revenues. The higher income for companies and government allow them to hire more workers, spend on capital projects or reduce debt.
The data presented below brings up an interesting question. Would increased birth rates in the United States today lead to a higher job creation rate two decades from now?
| Presidential Term(s) | Starting Employment Level (thousands) | Ending Employment Level (thousands) | Change | Total Change | Annual Average Change |
|---|---|---|---|---|---|
| Truman (49-53) | 57269 | 60893 | 3624 | 6.328% | 1.582% |
| Eisenhower (53-61) | 60893 | 65919 | 5026 | 8.254% | 1.032% |
| Kennedy-Johnson (61-65) | 65919 | 71695 | 5776 | 8.762% | 2.191% |
| Johnson (65-69) | 71695 | 78445 | 6750 | 9.415% | 2.354% |
| Nixon (69-73) | 78445 | 85987 | 7542 | 9.614% | 2.404% |
| Nixon-Ford (73-77) | 85987 | 93052 | 7065 | 8.216% | 2.054% |
| Carter (77-81) | 93052 | 100378 | 7326 | 7.873% | 1.968% |
| Reagan (81-89) | 100378 | 117581 | 17203 | 17.138% | 2.142% |
| Bush 41 (89-93) | 117581 | 120823 | 3242 | 2.757% | 0.689% |
| Clinton (93-2001) | 120823 | 136447 | 15624 | 12.931% | 1.616% |
| Bush 43 (2001-current) | 136447 | 138576 | 2129 | 1.560% | 0.446% |
Source: BLS (series ID: LNS12000000)[1] Note: Data series run from October of the year entering office to October of next administration's first year in office. The Kennedy-Johnson and Nixon-Ford periods start with the second terms of Kennedy and Nixon, respectively. |
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As the table above and the chart to the right show, the largest average growth occurred during the first term of President Nixon. In fact, each four-year period from 1961 through 1989 saw sustained growth above 2 percent except for the term of President Carter, which was just below two percent due to the recessions in 1980 and 1981. (Select the image to the right for a larger image.)
Demographics may have played a role in that period of higher than average job growth. The "baby boomer" generation started entering the work force in the early 1960s and the tail-end of that generation entered the work force in the early 1980s.
The slowest growth has occurred during and immediately after recessions, as one might expect.
Series ID: LNS12000000
Seasonal Adjusted
Series title: (Seas) Employment Level
Labor force status: Employed
Type of data: Number in thousands
Age: 16 years and over
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