I've seen this little meme pop up several times.

This factoid is arrived at by assembling the BLS private employment statistics and then tormenting them beyond all recognition.

To see for yourself, check off the second box at this BLS site then when you go to the next page go to "formatting options" and check 1-month net change. I downloaded the Excel file, and here it is:

What they are apparently comparing is Obama's last eight months (about 850,000 private jobs created) with the net job creation over Bush's entire 8 years (86,000 jobs at the end of 2008). Ignored in the process are the millions of jobs created under Bush before millions were lost, including four straight years without a single negative number in the private job creation category (August 2003 to July 2007)

Also ignored in the process is the entire year of 2009, in which something like 4.66 million private jobs were lost. If you look at 2009 and 2010, Obama's private job creation number would total MINUS 3.8 million.

So another assumption that has to be made for that meme to work is that 2001's numbers were somehow Bush's fault, while 2009's numbers are somehow not Obama's fault. Pull 2001 out of Bush's numbers, and Bush's net private job creation at the end of his eight years hits 2.4 million.

Unfortunately about nine people will bother to check the meme out for themselves, so look for it to become eternal.