Thursday September 10, 2009 23:23
1 million jobs saved by stimulus plan
To those having doubts about the effectiveness of the government’s stimulus plan, the government has released some numbers to help us understand some of the good that the $787 billion out of the people’s coffers did.
According to the president’s people, the stimulus plan is said to have created or saved around 1 million jobs up to August. The second quarter also saw the rise in the country’s GDP by 2.3 percentage points and again, the stimulus plan has been cited as key.
“We have absolutely seen a change in trajectory,” presidential Council of Economic Advisers Chairwoman Christine Romer said. “An economy that was in free fall with a tremendous amount of downward momentum has certainly seen something very different.”
Still, you can’t please everyone and naysayers are pointing out that even with so-called 1 million jobs created and saved, the country saw the loss of 3 million jobs. Unemployment remains to be critical in the forecast of the country’s recovery.
Source: CNN
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Tags: Employment, Jobs, Recession, Recovery, Stimulus, Unemployment, Work