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Veteran unemployment rises, Reagan job creation higher than Obama’s

U.S. Air Force Veteran looking for work
U.S. Air Force Veteran looking for work(Photo by Scott Olson/Getty Images)

Curtis L. Coy, Deputy Under Secretary for Economic Opportunity for the Veterans Benefits Administration on Monday released the Bureau of Labor Statistics (BLS) through email communications that shows that Veteran unemployment rose in February 2014.

While the national unemployment rose slightly from 6.6 percent to 6.7 percent, Veteran unemployment went from 5.6 percent to 6.3 percent, an increase of 0.7 percent, nearly 1 percent higher than expected although the BLS does not take into account of those veterans who stopped looking for work.

Coy attached an abbreviated version showing the data on the national and veteran level.

In related news, on Tuesday, former presidential candidate Herman Cain reported through his newsletter that the monthly job creation between former President Ronald Reagan and President Obama show a distinct differences of monthly averages.

Reagan created, on average 233,000 jobs while President Obama has created 61,000 jobs.

Cain pointed out that the Labor Department announced that 175,000 jobs were created in February 2014.

However, that the “U6 unemployment rate”, which is the real unemployment rate that includes the underemployed and those who have given up looking stands at 12.6 percent.

Cain said, “Now the White House wants you to think that 175,000 is a good job creation number… It is not, but if you do not have historical context in which to view the number, you might not recognize that. So let’s put the 175,000 jobs in perspective.”

“During Ronald Reagan’s first term, the average per-month newly created jobs was 233,000. That wasn't a phenomenal month that prompted them to throw a celebration. It was the average….and keep in mind that the population of the United States 30 years ago was 81 million less than it is today.”

“That means we were a 25 percent smaller country, so you would expect the job creation numbers of that era to trend smaller as a result,” Cain said.

Cain got his numbers and averages from the Bureau of Labor Statistics and not including the January 2009 numbers, show President Obama’s monthly averages comes to date is 61,000.

“The biggest job creation month of the Reagan presidency was November 1983, when we created 1.114 million jobs. How did that happen? It happened because they had just passed huge tax cuts. They had a plan for how to grow the economy, they implemented the plan, and it worked. Remember, when Reagan took office he faced a recession too, he didn't use that as an excuse,” Cain said.

“The Obama Administration doesn’t have any policies that will boost hiring, boost economic growth, but they can make assumptions. It was said that the economy is going to grow at over 3 percent in the coming year. It hasn’t done that in the five years since Obama has been president, but they are basing all their long-term revenue projections on the assumption that it will.”

In 2012, the Paulding County Republican Examiner reported the net job growth under every president since 1948 under Republican and Democratic Presidents and compared them with President Obama’s job growth since he took office in 2009 and ending in 2012.

While former Presidents Reagan and Clinton came out on top with the most “net” gain jobs, President Obama’s “net” numbers were the lowest of any president in the past 65 years.

The analysis, done by Political Math, took consideration of inflation data, population numbers, and references of actual jobs created in relation to jobs already created.

From 2009 to 2012, Obama’s “net” job creation came to 8.2% or just 0.1 million “net” jobs created.

Cain said that the job growth of 2013 was only 1.9 percent.

“Why would it suddenly grow at 3 percent when Obama refuses to change any of his policies? They won't…they can't,” Cain said.

“If Obama was serious about growth and job creation, he would adopt the policies of Ronald Reagan. Then maybe he would get the results of Ronald Reagan, which were outstanding.”