SYMINGTON CAMPAIGN PROVIDES REALITY CHECK ON DOUGLAS JOB CREATION CLAIMS
As Governor Douglas continues to tout his record handling Vermont’s economy, it is essential for the public to be able to put his claims in context and square them with the facts. Statistics from his own Department of Labor and the Federal Reserve demonstrate that Jim Douglas’ claim to have done a good job creating jobs is simply untrue.
Douglas Says: I Created 10,000 Jobs Since 2003Reality: Even if you accept this disputed number (which could be as low as 7,900) this is a very weak performance.
- By comparison, in just 2007, New Hampshire created 10,000 jobs, Connecticut added 16,000 and Massachusetts grew 25,900 jobs. (Federal Reserve)
- We currently have fewer jobs in Vermont than we did before the last recession (VT DOL)
- The rate of private sector job growth under Howard Dean in the 5 years before the 2001-2003 recession was three times faster than the rate at which private sector jobs have been created since that recession under Jim Douglas. (VT DOL)
- The vast majority of these jobs simply replaced the jobs lost during the last recession. This is the “bounce-back” that is normally seen in post-recession years. The sign of effective job growth policies would be growth beyond the bounce-back number, which is very weak under Jim Douglas.
Douglas Says: It’s Not My Fault. Blame the National Economic Downturn:Reality: Vermont’s economic slide started well before the current economic downturn. These fact show Jim Douglas’ economic performance has been worse than that of New England and the nation in key respects:
- Our job growth rate over the last five years has been HALF the national rate (2.6% vs. 5.8% - VT DOL)
- The unemployment rate in Vermont started trending up in 2005, and has increased 41% in the last three years. (VT DOL)
- We've lost 2,700 private sector jobs since he was re-elected in 2006- well before the current national downturn (VT DOL)
- Household income has dropped more in Vermont than any other state but one. (U.S. Census Bureau)
- We have the slowest economy in New England. (Federal Reserve).
- We’re the only state in New England that experienced a drop in exports in 2007. (Federal Reserve)
Douglas Says: My Tax Credits Work, Look at Vermont Castings ExampleReality: The Governor’s claim that making VEGI credits available to Vermont Castings could (not will) create 62 manufacturing jobs over the next five years is an extremely weak example when put in context:
- Since 2005, we’ve lost approximately 40 manufacturing jobs per month under Jim Douglas. At that rate, all of the potential new Vermont Casting jobs will be offset by job losses that will occur between now and early December.
Jim Douglas is using selective statistics to create the impression that he’s done everything right on economic policy and his programs are effective. Unfortunately for him, the facts are overwhelming his spin. Vermont’s failing economy provides undeniable proof that what Jim Douglas is doing isn’t working, and that's why more and more Vermonters aren't working.
find out more at -
http://symingtonforgovernor.com
