Isn't employment a trailing indicator? Didn't we have a major event back around 2001 that caused employment issues - I know I lost 20% of my pay at that point and a significant number of people here lost their jobs.
As such, wouldn't it make sense to let Bush finish his term and compare 1992-2000 to 2000-2008? I work for a manufacturer(yes, a manufacturer in the USA) and we've been hiring left and right and still have a number of positions open. We've added so many new people that we're about out of office space and are evaluating a 2nd production shift as we're about out of room on the production floor as well.