President Obama created more jobs than Steve Jobs' Apple

Source: CNNMoney
Author: Chris Isidore
Coverage Type: reporting
The White House, 1600 Pennsylvania Avenue NW, Washington, DC, 20500, United States

There's no doubt that Apple is doing far better than the U.S. economy as a whole. But that doesn't mean Steve Jobs had a better jobs record than President Barack Obama. In the Republican's response to the president's State of the Union address, Gov. Mitch Daniels (R-IN) proclaimed that Apple has created more jobs than President Obama's job creation program did. The only problem with that nice play on the Apple founder's name is that Daniels' math just doesn't add up. Not even close.

  • Apple's latest filing shows the company had about 60,400 full-time employees and 2,900 temporary and contract workers. About two-thirds of those jobs are in the United States. And most of those Apple employees are not high-paid engineering or manufacturing jobs -- 36,000 are in company's retail division.
  • Jobs also founded animation studio Pixar, which he sold to Disney in 2006. It had 850 employees at the end of its last year as an independent company.
  • But estimates of jobs created by the $787 billion 2009 stimulus act show that Obama's stimulus program helped many more people become gainfully employed than did Apple. The nonpartisan Congressional Budget Office estimates that the stimulus act passed in February 2009 saved or created at least 1.4 million jobs. And a separate study by Mark Zandi, chief economist of Moody's Analytics and an advisor to John McCain's presidential campaign, and Alan Blinder, a former Federal Reserve vice chairman and advisor to President Clinton, estimates that the stimulus act created about 2.7 million jobs.
  • According to a study by the Center for Automotive Research (CAR) a Michigan think tank, the bailouts of General Motors and Chrysler Group saved 1.5 million jobs.



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