The layoff rate under Bush is the second largest in US history, surpassed only by the Gipper:
Layoffs in the United States occurred at the second-fastest rate on record during the first three years of the Bush administration, a government report has found.
In the latest survey of how frequently workers are permanently dismissed from their jobs, the layoff rate reached 8.7 percent of all adult jobholders, or 11.4 million men and women age 20 or older. That is nearly equal to the 9 percent rate for the 1981-83 period, which included the steepest contraction in the U.S. economy since the Depression.
The layoff rate over the past three years, for example, was greater than in the 1990-91 recession, the displacement survey found.
A Bush administration spokeswoman, Claire Buchan, when asked for comment, responded with a statement that focused on the surge in job creation in recent months and made no mention of the worker displacement report. Jason Furman, an economist for the campaign of President George W. Bush’s Democratic opponent John Kerry, said the survey showed that jobs in America were increasingly insecure.
In the latest survey, 56.9 percent of those who said they had been re-employed also said they were earning less in their new jobs than in their old ones. That compared with 46.6 percent in 1991-93, a similar period of recession followed by a weak recovery, and 42.2 percent in 1997-99, a boom period.
Let’s make sure that Bush himself is laid-off in November.