Job cuts have started to ease as seen in government reports but many Americans are still fearing for their jobs. As for the rest of the unemployed population, the government says there’s hope that the stimulus plan will eventually affect employment by securing and creating around 750,000 jobs by August.
This calaim came after the Council on Economic Advisers reported on the ways of how the $787 billion stimulus plan (dubbed as the American Recovery and Reinvestment Act) will aid the ailing job market. The expected overall impact is pegged to save or create 3.5 million jobs by the end of 2010.
Unemployment has soard in double-digit percentages making people skeptical about the effects of the stimulus plan. Just nearly two weeks ago, the President claimed that the plan has already saved 150,000 jobs.
“The accurate measurement of jobs created and saved under the recovery act is a top priority, and I will be reporting to Congress each quarter on our progress starting in August,” Council chairwoman Christina Romer said in a statement.
Source: CNN
