The economic stimulus package may have added as many as 3.3 million jobs to the economy during the second quarter of this year and according to the independent Congressional Budget Office (CBO) may have prevented the nation from lapsing back into recession. The report was released by the CBO on Tuesday.
The details of the CBO report said that the stimulus lowered the unemployment rate by between 0.7 and 1.8% in the second quarter and increased the number of people employed by between 1.4 million and 3.3 million.
The budget office said the act also increased the nation's GDP by between 1.7% and 4.5% in the second quarter of the year.
Tuesday, August 24, 2010
Stimulus May Have Added 3.3M Jobs
Spread Good News By Sharing This Article With Your Friends. Click the Orange Plus Sign...
Subscribe to:
Post Comments (Atom)
If you prefer RSS feed subscription...
...Click This Icon For The RSS Feed
Posts
Thoughts on the drop in existing home sales? Does this suggest that Congress should have extended the tax credit and otherwise increased stimulus spending?
ReplyDeleteI just wish the President would do more to promote this fact rather than letting the TV talking heads promote the lie that no jobs were created.
ReplyDeleteGood comment Anon! TVTH are the biggest threat to economic growth when they only report gloom and doom or skew news with tags like "dashing hopes for a recovery" etc., inciting fear and creating the very situation we don't want.
ReplyDeleteOk, So we lost about 14 million jobs since '07, and now this last quarter posts 3.3 million, yet all the mainstream news reports is a double dip recession, and the possibility of a "lost decade" like Japan?
ReplyDeleteThanks for some sunshine. :)
Mainstream news WANTS a double dip recession to justify their jobs.
ReplyDelete