Is Obama telling the truth about creating 5.2 million new jobs?

From Yahoo News, of all places.

Excerpt:

In a new TV ad, President Obama makes an inflated claim to have added 5.2 million new jobs. The total added during his time in office is actually about 325,000.

In the ad, the president says “over 5 million new jobs” while the figure “5.2 million” appears on screen. But that’s a doubly misleading figure.

  • Viewers would need to pay close attention to the on-screen graphic to know that the ad refers only to employment gains starting in March 2010, omitting the 4.3 million jobs that were lost in the first year of Obama’s term.
  • And there’s no way a viewer would know that the total counts only private-sector jobs, omitting continuing losses in government employment.

According to the most recent employment figures from the Bureau of Labor Statistics, the economy has eked out a net gain of 325,000 jobs since January 2009, when Obama took office. And that’s giving credit for roughly 386,000 jobs that the BLS has announced, on a preliminary basis, that it will be adding to this year’s employment totals next year, as a result of its routine annual “benchmarking” analysis.

Looking only at private-sector jobs, it’s true that the total has risen just under 5.2 million since February 2010 — provided that credit is given for roughly 453,000 private-sector jobs to be added next year through the BLS benchmarking process. But over Obama’s entire term, those private-sector jobs have gone up only 967,000, even counting benchmarking additions.

The Heritage Foundation puts the number even lower, at 316,000 jobs created in the last 30 months.

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