Obama Noted That The Economy Added 5 Million Private-Sector Jobs Over Last 30 Months

Obama: “Over The Last 30 Months, We've Seen 5 Million Jobs In The Private Sector Created.” During the first 2012 presidential debate, aired on October 3, President Obama pointed out that after "[m]illions of jobs were lost" during the “worst financial crisis since the Great Depression,” the economy has rebounded, saying, “Over the last 30 months, we've seen 5 million jobs in the private sector created”:

You know, four years ago we went through the worst financial crisis since the Great Depression. Millions of jobs were lost, the auto industry was on the brink of collapse. The financial system had frozen up.

And because of the resilience and the determination of the American people, we've begun to fight our way back. Over the last 30 months, we've seen 5 million jobs in the private sector created. The auto industry has come roaring back. And housing has begun to rise.

But we all know that we've still got a lot of work to do. And so the question here tonight is not where we've been, but where we're going. [ABC News, 10/4/12]

CNN's Fact Checker Labeled Obama's Statement “False”

CNN's Tom Foreman:  Obama's Claim That “He's Created 5 Million Jobs” Is “False.” After playing a video of Obama making his claim, which included specific references to private-sector jobs over the last two and a half years, Foreman said, “This is a fundamental claim. Barack Obama says he's created 5 million jobs.” He promised to “look at the evidence and see what we can find.” Foreman concluded that Obama's claim was “false.” But his evaluation of this claim consisted of looking at the change in the level of employment over the course of the Obama administration -- not just the last 30 months. [CNN, Early Start, 10/4/12]

But Obama Was Right: Five Million Private-Sector Jobs Have Been Added Since February 2010

Bureau Of Labor Statistics: 5 Million Private-Sector Jobs Added Since February 2010. The Bureau of Labor Statistics' Current Employment Statistics (CES) survey found that in February 2010, the U.S. economy employed 106,773,000 people. In August of 2012 the survey found 111,400,000 people employed -- an increase of approximately 4.6 million. A preliminary revision released by the BLS in September, which incorporated more accurate state-level data, found that there were an additional 453,000 people employed in the private sector. The revision combined with the results of the August survey show that the U.S. economy has added over 5 million private sector jobs in the last 30 months. [BLS, accessed 10/4/12 (CES), 10/4/12 (revision)]

Center On Budget And Policy Priorities: “Private Employers Added Over 4.6 Million Jobs To Their Payrolls In The Last 30 Months.” In a report published the day the Congressional Budget Office (CBO) released its benchmark revision, the Center on Budget and Policy Priorities noted that “the pace of monthly job losses slowed dramatically soon after President Obama and Congress enacted the Recovery Act in February 2009” and that “private employers added over 4.6 million jobs to their payrolls in the last 30 months.” The post included this chart:

[CBPP, 9/27/12]