Highlights of the White House version of Job creation by Stimulus Money
By Daniel at 1 February, 2010, 1:29 pm
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
1. White House CLAIMS the stimilus created nearly 600,000 New Jobs from $862 Billions($1.44 Million approximately Per Job)
2. The counting formulas for job creation is based on full-time equivalent of 40-hours per week(For Example, Contractor doing 80 hours a week jobs were treated as 2 jobs or two 20-hour week part-time jobs were treated as one fulltime jobs)
3. Contracting jobs with the total hours as few as 80 hours were treated as 1 net job creation.
4.The jobs come from money awarded through contracts, grants and loans, however, it must be noted that more than 80-percent of the reports are from outright government grants.
5.”Since this is a partial survey based on reports filed by recipients, we know it’s not perfect or complete,” said the Vice President…
6.The 599,108 number is below the 640,000 number from the first reporting period, which was widely criticized for discrepancies. The Recovery Board, and the White House, admitted that the self-reporting process would yield errors and have tried to eliminate the more embarrassing errors such as phantom jobs in phantom districts and lawnmower purchases reportedly creating dozens of municipal jobs.
7.In addition, the manner of counting was changed late last year when the White House Office of Management and Budget mandated that ANY job that had a salary funded, in ANY magnitude, be counted. There is no longer a distinction between a job “created” and a job “saved”…In other words, WE WILL NEVER KNOW THE REAL NUMBER OF JOBS CREATED AND SAVED INDIVIDUALLY.
8.In California, more than $21-billion has been awarded and California reported about 71,000 jobs.($295774/job)
9.In New York, $12.5 billion in awards has yielded about 43,000 jobs in this latest report.($290697/Job)
10.Some jobs created(No idea how many) even before the recovery act was signed were also included as operations ramp up in anticipation
- NK
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
No comments yet.