are helpful. 1.3 jobs created under bush. 10.6 million jobs under obama. that was a time wen the western democracy rates were growing. when you look at our growth rate, guess what, europe below 1%. japan 0. we are actually beating our peers. you can t admit that so you compare us to china and india which are growing more, but from a lower base. again, you have to do funny numbers and fuzzy math. under obama we ve been beating our competition, and our economy right now is 10% bigger and richer than that was at the height of the post recession peak. those are real numbers. real numbers that barack obama is about to become the
peers. you can t admit that so you compare us to china and india which are growing more, but from a lower base. again, you have to do funny numbers and fuzzy math. under obama we ve been beating our competition, and our economy right now is 10% bigger and richer than that was at the height of the post recession peak. those are real numbers. real numbers that barack obama is about to become the first president in fact united states history to not attain 3.5% gdp. people are hurting. and we beat every other country in the world that is an advanced industrial country. the one stat that stuck out in this election, 56% people feel the economy is rigged against hem. rig second down an important word. by using that word he feels like the deck is stacked against him. bernie sanders used that word.
thong. we ll thought we d take so let s start with the glass half full. let s talk about jobs. unemployment rate. the headline number has been slashed in half since its recession peak of 10%. it s now at 5%. that s a level most economists call full employment. in the recession, the americans lost 8.million jobs, we ve now gained 13 million jobs. another bright spot, more than six years into the recovery and the federal reserve is about to raise rates tomorrow or so we expect. they re going to do this for the first time in nearly a decade. jose, this is a vote of confidence in the economy. the stock market, wall street, well, it has gone side ways this year. and it not supposed to be the president s job to ensure the
lost during the great recession. the federal reserve says household wealth is now at 98% of the pre recession peak. do you feel like you regained all that ground? how do you really feel out there? america is asking all sorts of questions about the economy and what it means for our families. here with us is steve moore senior economics writer for the wall street journal and also jeffery frankel was on president clinton s panel of economic advisers. great to have you. what do you think this report says, steve? hallelujah, right? this is a very good jobs report and it s about time. this recovery has been about half the pace of normal job growth. we finally got a pretty good number. a lot to really celebrate in this report, not only the 200-plus thousand new jobs, jenna but wages rose last month, you actually had people working longer hours, suggesting the labor force is getting a little tighter, and i love that number about wealth being back up,
house republicans attached unrelated projects to the bill that democrats don t want. the cut expires december 31st and without an extension the typical worker will get hit with $1,000 tax increase in the new year. newt gingrich has lost his iowa campaign director. craig bergman has stepped down over some comments he reportedly made about mormons. the des mois register says he called mormonism a cult. two of gingrich s rivals rather in the republican presidential race, mitt romney and jon huntsman are mormons. the faa says starting friday american airlines pilots can use ipads in the cockpit. the devices will replace hard copies of flight manuals and navigation charts. american says cutting out about 50 pounds of paper on every flight will save massive amounts of fuel across the airline. don t worry about distracted pilots. the ipads will not have internet access during flight. a federal safety board is calling for a nationwide ban on cell phone use while driving. that m