With just 245,000 new jobs created in November according to monthly job creation report released by the Bureau of Labor Statistics Friday, Donald Trump is all-but-assured that he will leave office with a net job loss during his term.
Since Trump took office, the United States has lost more than 2.8 million jobs. He will be the first president since Herbert Hoover to leave office with fewer people working than when he entered.
The previous low for post-war presidents was George W. Bush, who had a net job creation of just 1,264,000 after eight years in office.
Since the end of World War II, Democrats have been in the presidency for 430 months and created 69.83 million jobs. Republicans have been in office for 478 months and created less than half that number of jobs: 31.97 million.
In combination with yesterday’s first time unemployment claims report from the Department of Labor, showing more than 712,000 people filing claims, the jobs market is slowing down as the United States its new highs in coronavirus infections and hospitalizations.
Many states are implementing or reimplementing shut down orders to stem the spread of the coronavirus, foretelling a slowing economy going into 2021.