Determine if the sentence is true based on the text below:
This is the first president in the over 5 decades to do such a thing

But the first and most important thing is to start creating jobs in America. The jobs the president is creating pay $9,000 less than the jobs that we're losing. And this is the first president in 72 years to preside over an economy in America that has lost jobs, 1. 6 million jobs.