Stimulus money still creating jobs

2.9 million last quarter

David Crossley, Aug 29, 11.

A new report from the nonpartisan Congressional Budget Office says the original American Reinvestment and Recovery Act is still creating jobs, according to a story in Transportation Issues Daily:

The report reviews the Act’s impact on employment and economic output for the second quarter of 2011(CBO Director’s summary, 20-page PDF).

The stimulus increased the number of employed workers by as much as 2.9 million last quarter. Other effects the legislation had on the second quarter of 2011 that wouldn’t have happened otherwise, including:

- an increase in GDP by .8 percent to 2.5 percent
- a decrease in the unemployment rate by 0.5 to 1.6 percentage points
- an increase in the number of employed people by 1 million to 2.9 million
- an increase in the number of full-time equivalent jobs by 1.4 million to 4 million MORE