With Friday’s job creation report from the Bureau of Labor Statistics, President Joe Biden surpasses 10 million jobs created to this point in his administration, by far the most of any post-World War II president in his first 20 months in office. But you can’t really appreciate the difficulty of this feat until you compare it with his predecessors.
Looking at the total jobs created is a bit misleading, given that Biden has been in office less than half a term, but as you can see, his job creation numbers rank him sixth of all post-war presidents.
But when you look at the average number of new jobs created each month, Biden’s average of 588,000 per month comes in at more than double the next nearest chief executive. Is it a pace he can maintain through his presidency? Unlikely. We’ve already seen a slowdown, but nothing close to a full reversal that would be a harbinger of a recession. But the current rate is something not even close to anything in US history.
The final chart doesn’t concentrate on Biden’s record, but on the eternal R vs. D debate: what Party creates the most jobs when they hold the White House? Of the 110 million net new jobs created since August 1945, the overwhelming majority have been under Democrats: a net 79.8 million for Democratic presidents versus a net of just 29.6 million for Republicans. And this comes with GOP presidents holding office for a greater period of time than Democrats: 480 months for Republicans versus just 469 for Democrats.
The data don’t lie: with the exceptions of Ronald Reagan and the assassination-shortened administration of John Kennedy, there’s a clear pattern of Democratic presidents at the top of charts while the GOP lag far behind. Biden is the most explicit in his desire to help develop strong, working-class, union jobs and he’s put his words to action. Biden has quickly overcome the job deficit left by Trump’s mismanagement of the coronavirus pandemic.