Obama: I Want An Economy "Where We're Making Stuff And Selling Stuff And Moving It Around"

◼ "On Tuesday at the State of the Union, I laid out my vision for how we move forward," President Obama said at a campaign event in Las Vegas, Nevada. - Real Clear Politics (video)

◼ Obama’s Misleading 3 Million Jobs Created Claim - Net Right Daily

There is a distinction between the Bureau of Labor Statistics’ (BLS) measurement of private sector jobs in the establishment survey and the overall jobs picture in the household survey. For obvious reasons, the narrower establishment survey does not catch everything. But most Americans who heard the speech probably thought Obama was saying the economy had created 3 million jobs overall since Feb. 2010.

It was a distinction Obama again failed to make on Jan. 25, a day later, on the campaign trail in Iowa. Then, he said, “We have created 3 million jobs over the last 22 months.” Again, implying the economy has created more jobs than it actually has. However?

According to BLS, since Feb. 2010, when Obama starts measuring his claim that 3 million jobs were created, the amount of people employed has only increased from 138.66 million to 140.79 million, a net increase of only 2.13 million. While that sounds nice, that is a pace of just 96,000 a month, which does not even keep up with the growth of the population — which grew at a pace of 163,000 a month — let alone replace the 8 million jobs that were lost in the recession.