A reciprocating saw including a housing, a spindle mounted for reciprocating motion within the housing, a gear rotatably mounted within the housing, a wobble shaft rotatably mounted within the housing, a wobble plate rotatably mounted on the wobble shaft and connected to the spindle, and a clutch drivingly connecting the gear to the wobble shaft. The clutch includes a clutch driver rotatably positioned within the housing adjacent the wobble shaft, and the clutch driver includes a recess for insertably receiving a portion of the wobble shaft. The clutch driver can also include a relief ledge for providing clearance between the clutch driver and the wobble plate. The clutch can further include a first clutch disk connected with the gear and positioned between the gear and the clutch driver, and a second clutch disk connected with the clutch driver and positioned between the gear and the first clutch disk.