Stimulus Creates, Saves More Jobs In June: Committee

Reuters:

WASHINGTON (Reuters) - The number of jobs created or saved by infrastructure projects funded by the U.S. economic stimulus plan more than doubled in June from May, according to a report released Tuesday by a House of Representatives committee.

Read the whole story: Reuters

Comments

[StephenS]

Jobs "created or sustained" by the stimulus package rose from about 21,000 in May to about 49,000 in June. But U.S. employment dropped 811,000 during May and June. www.bls.gov/news.release/pdf/empsit.pdff)

If not for the stimulus package, the unemployment rate at the end of June would have been 3 hundredths of a percent higher (9.54% instead of 9.51%, for a difference of 0.03%).

With 155 million people in the labor force, it will take at least a couple of more months for the stimulus package to significantly affect the unemployment rate.

[kcmookie]

Heavy on tr0lls in here today!

[HighPlainsDrifterToo]

So whats your problem? It says if you have something to say,say it on Huffington Post.

[sarabono]

Wow, saved 49,400 jobs and lost 497,000 in the same month ! Call that "It's Working? NOT !

[ptfcNassoc]

Mathematically? No. Since it is a net loss. As far as helping to recover the economy? Yes. Those are two different things. All because there was still a "net" loss doesnt' mean its not working. There's 50k less people without jobs then there would have been.

[bannorhill]

Only 10% of the $750,000,0­00,000.00 stimulus has been spent or $75,000,000,000. 50,000 jobs saved.

That works out to about $1.5 Million per job.

Government efficiency!!

[ptfcNassoc]

That 10% went to a lot of other important components to economic recovery then just job creation. Some of it actually went to tax breaks that you rethugs love so much. Tell your private sector buddies to actually do something with that money like creating a job or two. You are not fooling anyone c.lown.

[FightTheLies]

Tro|| talking points today:
1) Stimulus isn't working. 49k got jobs while 500k lost jobs.
2) It''s socialism I tell ya socialism
3) It's a trillion dollars wasted and not doing anything.

Well I'm here to inform those tro||s.

1) Stimulus IS working. Jobs are being saved AND created in many of the markets proven to help spur the economy. Tax breaks to the rich DO NOT work. If they did, the tax breaks that Bush put into effect, and still are would have kept us out of this economic mess.
2) If you don't like socialism, don't use anything that it produces. That includes roads, unemployment, police, fire, schools, military (not sure if that would fit), and retirement programs. Don't be a hypocrite and rail against it while accepting the benefits.
3) 1 trillion spent on American workers. This is in stark contrast to the 5 trillion spent by Bush on his wars and corporate cronies such as Haliburton (listed as a small business to contract for the Iraq war)

[republicanforlife]

From the tr0ll: The recovery is happening without your stimulus, Not because of it. Let more government control in your pocket? Right now bnaks want to pay back the borrowed money but the government will not let them, WHY? because they need to keep control. Its a trillion dollars wasted and not doing anything? Ah yes. Next point!

[ptfcNassoc]

Provide evidence and facts with your statements. You can't just say whatever you want.

[FightTheLies]

Wrong but thanks for playing. The jobs created are from the stimulus. The negative number for jobs is due to massive greed from the corporations you so admire.

[FightTheLies]

And while you were trashing someone else on spelling, you might want to check your own buddy. BANKS not BNAKS.

[Spartan66]

Well...acc­ording to Fox News, Treasury allowed 10 large banks to repay TARP funds in June, in addition to 22 smaller banks that had already made full restitution. The banks that were not permitted to repay funds had not passed perfectly reasonable stress tests and needed to raise more capital - several (such as Bank of America) have already done so.

Facts matter.

http://www.foxnews.com/politics/2009/06/09/report-allow-banks-repay-tarp-money/

[slowhand0728]

I actually agree about money being wasted on the wars, but they are continuing under the current administration, and escalating. So how does that help your cause? We will be spending Billions more under the Obama administration.

[ptfcNassoc]

The war in Iraq is winding down and will be to a complete end in 2011. So that leaves one war (Afghanistan) and not TWO wars at the sametime. That's kind of the opposite of "escalating" warefare.

[FightTheLies]

The war we should be fighting is in Afghanistan. The war we weren't supposed to fight was in Iraq. They never had any "weapons of mass destruction". Never did either.

[bannorhill]

2) Socialism Roads, police, fire, and military are all Constitutionally mandated. For example Police, fire, and military provide for the COMMON defense as required by the Constitution.

I will gladly agree not to use the Socialistic items not Constitutionally mandated IF all my and my employers's payments into those items are refunded with interest and no future payments are taken from me.

[sonoffestus]

Let's see 6 months, only 10% of the money spent and the stimulus is a failure.

I was right , the American people will undermine their own recovery. Spoiled ,ignorant and impatient, a sure recipe for failure.

On the night of the election I turned to my wife and said, "Americans will bail on the President before he completes his first year in office." Better suck it up kids, you're in for a long ride. If this thing fails look in the mirror for the reason why. Everybody better start working together for a long term solution.

Atwater/Rove/Bush and the conservative neo-con agenda divided the nation. A divided nation cannot stand. They have sown the seeds of your decline. You have abandoned the very thing that made your nation great.....­..........­........Th­e common good. It's about me, me I tell you.......­........LO­L.

[Icantbelieveher]

I see workers on almost every highway I drive around my home -- there are men and women working, that would not have been working without the stimulus! And we're getting new bridges in place of unsafe, crumbling bridges, and our teachers, firemen, and policemen were called back to work after they were laid off because of the stimulus! If that's 10%, imagine what it will be like when the entire stimulus is disbursed!

If they rush the spending, there will be fraud, and that would 1) be worse for the economy, because it wouldn't go to the right people, 2) be the subject of republican ridicule (big surprise)

[sonoffestus]

Glad you are hanging in there. Hope others get it. I am right there with you. Good luck.

[DallasMike]

I can see how Obama ha united the country siding with his friend and calling white cops idiots without all the facts how is that uniting the country? running as a centrist Dem and turning into the biggest lefty to ever hold the office of president. People are still losing their homes and his solution is to bail them out instead of creating jobs he is paying off his special intreast groups that helped get him elected. Yes he is a uniter alright he is uniting the Republicans and causing in fighting with the Dems.

[SurrealPumpkin]

Obama lefty? In my dreams!

[ptfcNassoc]

Wow everything you just stated did not or has not happened. What alternative universe are you from? At least other tr0llz actually use event that actually happened but spin it there way. You could learn form the more experience tr0llz on how it works.

[wandering girl]

wow, 6 months and no baby. I'll be you're h.ell on your wife.

great story in the NYT about how TN is using the stimulus to create jobs - yes, jobs *now*.

NM is all lined up and waiting to go.

better suck it up, kiddo - your hatred and ignorance precede you.

[sonoffestus]

"6 months and no baby".....­.......LOL­. The only stimulus DM understands must be his hand.

[bannorhill]

I agree that we all need to look for a long term solution. That can never happen if we continue to expect the Government to take care of us. We need to go back to taking care of ourselves. If we expect the government to meet our wants we will always be disappointed.

If we work to achieve our own goals and needs we can achive them.

What happened to "Ask not what your country can do for you..."?

[ptfcNassoc]

Attention tr0llz:

When an economy recovers from a recession/­depression it recovers slowly. No matter how much you all want to h.ate, the fact that 50,000 jobs were created/saved in one month while hundreds of thousands were still lost IS IN FACT a GOOD sign. It doesn't matter how much you want to spin it as bad (yes we understand math and how that is a net loss) but as far as an economy recovering it is actually a GOOD sign. You all are not fooling anyone. It's like expecting a c.ancer patient after chemo to beat c.ancer in few months and then become an Olympic athlete, its not going to happen that way. Thats 50k less unemployeed people that would have been unemployed if nothing was done. The stimulus package is just that to STIMULATE, NOT be the savior of the economy. At a certain point the economy has to bounce back on its own when its all said and done. It's a 2 year plan and only 10% of has been spent. Hold on to your h.ate to when the plan actually fails IF it fails.

[republicanforlife]

Attention Non tr0llz:
When our country recovers from this recession it will not be due to the fact that the government threw pork at it from every angle. It will recover because of the free market system that built this country. 50,000 government jobs that have no longevity are not created JOBS! it is a temporary "finger in the dike" remedy that will hide the problem for a short time. The STIMULUS again is a waste of the taxpayers money, both right and left!!!!!

[KidMohair]

Bush borrowed consevatively, 6 billion to pump into the economy, in order to give the appearance of prosperity.

That's not pork, huh?

[Conservador-Rebelde]

Attention PTFC:

http://www.marketwatch.com/story/obamas-summers-predicts-immediate-effects-from-stimulus

"SAN FRANCISCO (MarketWatch) -- President-elect Barack Obama's top economic advisor said Sunday that the incoming administration's proposed $825 billion stimulus package will pass within a month and will have some IMMEDIATE, appreciable effects.

"Some of the adjustments will take place ALMOST IMMEDIATELY. People will see income in their paychecks, state and local governments will get support to prevent layoffs ... and there are a ton of shovel-ready projects that are out there that aren't going to have to be cancelled when this program passes," Summers said."

Yes it takes a long time to recover, but we were promised immediate effects.

[ptfcNassoc]

Wow thank you Conservador, many of those things have happened already. Thank you for helping me prove my point. "People will see income in their paychecks" - this has happened, "state and local governments will get support to prevent layoffs " - this has happened. Let me also hadd extended health benefits and unemployment benefits - this has happened. Those things seemed "almost immediately" to me. Also the term "immediate" is relative. I would consider jobs being saved and created 5-6 months into it as resonably "immediate" when you talking about helping to fix an entire economic system.

[HonorJusticeTruth]

You neglect to mention that President Obama was unable to force the Congress to vote on something immediately and didn't use the lie and panic technique we have all grown so used to under GWB.

[SurrealPumpkin]

I saw an immediate effect in my pay check, just as I was promised.

[wonketteRAWKS]

Create or save. More numbers to add to the spin. New jobs are needed now!

JOBS, JOBS, JOBS!

[Jeff Cunningham]

So saving a job isn't important? Funny, I would've thought avoiding unemployment would be a good thing ...

[ptfcNassoc]

You kind of have to do both genius. Please see my comment above as it pertains to you. Thanks.

[DanSteSr]

This is exactly why Obama wanted all these ifrastructure job.s They are going to be for his buddies in the unions, not private sector jobs that would help sustain the economy. These jobs will go to the people who could afford to be unemployed the most since they are members of the unions, who aside from recieving unemployment they (most) also recieve compensation payments from the unions to make up the difference. so the people having the hardest time being unemployed are not getting help.

[jazzman]

Private sector jobs sustained the economy? What planet are you from? We had a complete financial collapse from 2007 and 2008 in the private economy. What's more jobs were being shipped overseas and people were being forced to take lower wages in service sector jobs and were losing benefits right and left. Real wages, after inflation, were decreasing over the past 8 years.

Join the planet, DanSteSr. There's reality out there.

[DanSteSr]

Yes if he fixed first the housing market, stemmed the forclousers, made it lucritive for people to purchase home and maybe get the construction industry going again the economy would be crusing along in no time. Private sector jobs make the economy roll.

[smiththomas]

you are exactly right. From the very beginning of this administration it has been about helping the unions. The GM deal was all about helping the UAW. The put billions in to delay bankrupcy and when they finally did go to court they told the judge what they wanted. What they did to the bond holders was criminal. They kept the people watching the banks (inwhich they took preferred stock and warrants) and at the same time they put 50 billion in a company that had paid wages and benefits that where unsustainable for years. Obama has only been concerned about unions. Labor unions, government worker unions, and teachers unions. This is inflationary for everyone else.

[DanSteSr]

Every thing he does is about keeping the unions happy, why dosen't he want to tax health care benefits for his health care plan, unions. i still dont get the difference between lobbyiest and union reps. different but the same!

[MountainPenelope]

Well, I'm from S.C., a "right to fire without cause" state, and we are finally getting some infrastructure jobs here as well. No unions or Obama buddies involved, 'cause all our controllers are GOPers who fought the stimulus tooth and nail. So your union buddies argument won't wash.

Just hope that some of the 12.1 per cent of the unemployed in our state stop and realize they can thank Obama and the Dems for their jobs. But I doubt they will...

[DanSteSr]

You mean thos jobs aint being built by operating engineers union or carpenters union or laborers union because if they are government projects they are typically reserved for contractors who have union employees.

[Icantbelieveher]

The companies here in colorado are private companies that are mostly small businesses. They are not union members!

Did you think of this while you were sitting on the toilet this morning? Saying it doesn't make it true!

[DanSteSr]

The companies are not union members they are management there employees are union members. If it is a government contract you can bet it is union employees.

[SurrealPumpkin]

Union jobs aren't private sector? Who knew?

[TheUnknownSoldier]

RepublicanforLife

It is interesting how the right all of sudden wants to debate and discuss things, when a few years ago they were 100% certain they knew what they were doing, and they did not need any input or advice from the Liburuls.

The only thing that needs to be discussed is where and how Right Wing ideology and policies went wrong.

If you want to have a discussion about that I'm sure many here would be happy to have that robust discussion with you.

[Grunty1]

A few years ago? They are still doing it. Why else would they become the Party of No?

[republicanforlife]

"Right Wing Ideology"? Is that what caused the housing market to collapse? I guess the right wing Barney Frank at freddie and Fannie giving out loans to those who do not qualify was the Rebilicans idea. Thanks

[KidMohair]

Predatory lending sure sounds like a RepubliKLAN idea though...i­t's so easy to blame the other side if you get caught at it.

[smiththomas]

I certainly remember the 14% inflation rate and 21% interest rates under president Carter. That is what i fear under president Obama.

[angrydove]

We have the best president in the world! I am so proud. I just wish I didn't have to share him with all these negative repub boo-hoo-ers.

[republicanforlife]

We have the greatest COUNTRY in the world. You dont have to share if you dont want to just keep the socialist agenda away

[sonoffestus]

As an American living outside the US could you please provide me with some documented evidence that the US is the "greatest country in the world." By who's and what standards are you basing your conclusion on?

[FightTheLies]

Socialist this socialism that. If you're so against socialism, then don't call the police, fire departments, claim unemployment, use our roads, schools, or anything else that "socialism" has produced. Don't be a hypocrite and talk bad about something while using all the benefits.

[MountainPenelope]

You don't have to share. Do as I did - leave'em in the dust and move on.

[mjtaylor22]

remember the repugnants said it was too big,and that toomuch was beign doen to save the economy...­........
right now all repugnants need to sit down and shut up, it was their tax cuts over spending that put any perceived and real weakness inth estimulus bill, they cut transportation funding and pandemic vaccination funding, etc etc.......­....
so glad this report came out, becaus ethe same people who said we don't need no stimulus,
are all to happy to declare this two year plan a failure, oh he promised 8% and we are at 9.5% unemplyment.
onky 10% has been allocated, and the recovery is on the way, we stopped the free fall, don not argue to me about 1.5% difference in unemployment, projections and actuality.­. when we were loosing 750,000 jobs pe rmonth for 10 of the last 12 months. the unemployument benefits alone, the extended healthcare for the kids as well...
those stopped the bleeding, the recovers will take time but we were hemmoraging

[republicanforlife]

So spending 1.4 million to save a mouse in SF stopped the bleeding? The Stimulus is a waste end of story. Need to look at both parties when you talk about overspending, however the republicans dont hold a candle to the ability of the dems to throw away big money.

[Joriet]

LOL...your name is HILARIOUS. It shows you're not only dumb, but proud of it! Then you even validate your ignorance with that ridiculous statement. Gotta love repugnants!

[ptfcNassoc]

Your name clearly shows you are fair and balance. Why not make it more obvious.

[FightTheLies]

Any money wasted on Republican salaries is a misuse of funds. Not like any of them deserve it anyways.

[Grunty1]

Poor IdjitForLife is still hung up on false talking points.

[MountainPenelope]

So, you fell for that SF mouse garb.age? Now I understand how you fell for 8 years of Bust/Chancey lies.

[slowhand0728]

The problem is we need a stimulus that creates long-term private sector jobs, not government jobs or temporary projects. And this money being used to "SAVE" jobs makes no sense because next year when the states revenues are just as bad, then what? They will have to cut the jobs anyway.
The only way to increase the tax revenues is to see private business growth. There is no other way.

[Mystic01]

There are so many of these temporary projects--­road/bridg­e repair, etc.--that the job creation can be sustained for some time. And then there is the ripple effect of these jobs--they help maintain or create other jobs in the communities where the projects are taking place.

[ptfcNassoc]

Exactly, a ripple effect. Can we go straight to the source (the private sector) from the get go? Yes we technically could. But we have already been doing that and giving the money to the top of the private sectors for the last 30+ years and the little thing called human/corporate greed always seems to get in the way and money never seems to "trickle" down. So therefore we are going in the other direction. These "temporary" jobs will create others down the road therefore a bigger portion of the population with a little extra money in their pocket to spend on good and services which will then make other business grow and so on and so forth. In theory it works, in actuality I hope it works but I do know what DOESN"T work giving all the cash to the people at the top and hope over the next 30 or more years a buck or two falls on my head.

[human2008]

Private sectors have created the economic tsunami and government has to come to the rescue - on top of that these private sector executives are taking billions from government rescue funds for their bonuses. Whatever government are doing is the right thing unlike Cheney adminstration. People need to take care of their families now and government need to help them - not bother about the interest of wish of right-wing - no good - self centered - nuts.

[jazzman]

No job is permanent. When was the last time you bought a record player or an 8 track player? Do you know how many companies have disappeared in the last 10 years? How many stalwart technologies passed away? If you think that the private sector provides more stability or long term jobs than infrastructure projects, you live in fantasy land.

[slowhand0728]

lol and the insults start. Cracks me up. I dont believe in A JOB for life, I believe in jobs and growth, and the only way that happens is being profitable and expanding.

[Hank10303]

Well if you drive I have one question for you. Have you ever known a road work or bridge project to be finished on time and within one year - EVER? So that takes care of your "temporary job" concept. Second, we have bridges falling down and pot holes all along our highways, antiquated sewer systems and a host of other infrastructure maintenance issues. Just how are these things to be repaired; and before you say the republican catch all - the private sector has not been interested in adopting highways and bridges to the degree of making major repairs so how is it to get done so that our intra state transportation system which includes products and goods shipments will remain viable. Private business is NOT THE ANSWER; private business is part of the solution but government is the only controlling factor that can direct where and how business ought to develop. By the way its been government that has performed this function for over 200 years and its government that provided the structure for the very same private industry that you so very much are in favor off. Yet private business was the major problem in creating this current recession with the help of the HANDS OFF republicans. Its the lack of government that clearly cause our current recession under republican control. We have tried your theory and guess what it got us where we are today. NO THANKS.

[FreedomReign]

The stimulus was not intended to finish projects fast, or even on time. It was a means to provide hard working Americans with a job, enough to keep a roof over their heads, and food on the table.

[Hank10303]

The Stimulus was the brain child of the Obama administration and was pasted in February. it began distribution in March and is a 2 year plan. So far only 10% of it has been used and the results are starting to be felt as states implement the "shovel ready" projects or recalculate their budgets to avoid layoffs. This is a many pieced puzzle that is starting to take form and shape. The one thing we can be sure of its this. Whatever the Rushpublicans say is probably a lie. What they do is more like the truth. For example, Bobby Jindel proudly taking pictures of photo enlarged checks of stimulus funds he has signed over to departments for projects and programs. The very funds he wanted to reject. We need to pay attention to what the Rushpublican do and not what they say.

[Wallysmom]

Republicans can't have it both ways. They whined about the Stimulus (even though it was the Bush Administration that started the whole "stimulus" in the first place) and then when it does create jobs, they whine it didn't create ENOUGH jobs. Last I looked the DOW, NASDAQ and S&P are up to over 9000. At the height of panic they were tanking down in the 5000 range. If it is your job that got saved or created it is a big deal. We are still in a recession, guys. It could have been worse.

[Hank10303]

Just one correction. The TARP was started with the Bush administration and was targeted at the financial institutions. The initial half was a money give away and the second half controlled by the Obama administration had restrictions, agreements of repayment and limitations. Apparently that worked because several of the top financials are repaying the borrowed funds and reporting profits. The Stimulus was the brain child of the Obama administration and was pasted in February. it began distrubiton in March and is a 2 year plan. So far only 10% of it has been used and the results are starting to be felt as states impliment the "shovel ready" projects or recalculate their budgets to avoid layoffs.

[jcwtts1]

The reality is that it takes 6 months to get a project up and running which is why June was the starting point. It is a two year plan and if you take that Washington State example they spent 665 million of 22 billion. They also saved or created around 3500 jobs. So using them as a model we have multiple cycles of job creation ahead. It isn't a solution, the goal has always been to stop the bleeding and allow our economy to self correct over years.

J

[Grunty1]

There was SOME worthless stimulus under Dubya. Remember those puny checks that were mailed out, along with more tax cuts for the wealthy?

[MissingAmerica]

Locally, we have Spanish-speaking crews working on terrific projects, like luxury 2/2 apartments on the busiest and noisiest street in the city, renting for over $1,000/mo. We have new loft apartments just opening; wide open apartments in a 4-story complex, each with a balcony. Problem is that the balconies are less than 20ft. from the main railroad track, with trains going by at regular intervals 24/7, including the trains with a view that will be able to wave to the people wearing earmuffling headsets on their balcony. Those apartments rent for $900. Both cases? No takers. Other housing going up is billed as "luxury". This in a blue-collar area of rising unemployment and a considerable homeless population with nowhere to go. Stimulus is not stimulus if it does more to destroy than create.

[FGDinVA]

This doesn't sound like a Federally-funded project to me. But it does sound like you have a problem with people who speak Spanish?

[stunsitfel]

In Akron Ohio they are building nets under a bridge that folks are jumping off. They are doing this with stimulus money.

I look for projects like this to pull Ohio out of their current mess.

[jcwtts1]

why would the federal government pay for private apartment construction?

[ptfcNassoc]

contact the your states government (Governor, congressman and local mayors) if you think they are spending the money unwisely, don't blame it on the overrall stimulus package itself. Also, like another poster said building luxury apartments doesn't sound like a federal funding project.