Jobs down the drain

Doing a bit of my own statistic gathering.

economists estimate that the nation needs to add roughly 150,000 jobs a month just to keep up with population growth

150,000 x 12 = 1,800,000 per year

From US Bureau of Labor Statistics

2000 non farm jobs 131,785,000

2007 non farm jobs 137,623,000

jobs increase 5,838,000

1,800,000 x 7 = 12,600,000 would have been needed

actual job loss for 2008; 400,000 first 6 months
predicted for next 6 months; 400,000

So for full 8 years of Bush;
12,600,000 – 5,838,000 – 800,000 = 7,562,000 job shortfall

And of course many/most of the new jobs were in the service sector, paying less than the manufacturing jobs they replaced.

But income increased? Only in the sense that when a hedge fund manager walks into a bar the average income of the people in the bar increases.

Why aren't the unemployment statistics higher?
1. people have given up
2. if they have run out of unemployment benefits, they are also not counted.