The Jawa Report has an excellent analysis of Kerry's oft repeated untruth that GWB is the first president since Herbert Hoover to lose jobs. Apparently, of the 14 post WW II presidential terms, 7 were net job gainers and seven (including the current one) were net job losers according to the Bureau of Labor Statistics.
Now it's not very flattering to be among the 7 negative job growth presidents but it's certainly better than being the first since Herbert Hoover. With current trends continuing, a reelected GWB would replicate Reagan's record of having a net positive jobs record by presiding over a boom in his 2nd term, sufficient to erase the job losses of his first term.