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 Post subject: Jobs created by the faux stimulus?
PostPosted: Mon Dec 06, 2010 4:24 pm 
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How about zero?

This article deconstructs a Fed study on the stimulus bill effects.

Quote:
The results suggest that though the program did result in 2 million jobs “created or saved” by March 2010, net job creation was statistically indistinguishable from zero by August of this year. Taken at face value, this would suggest that the stimulus program (with an overall cost of $814 billion) worked only to generate temporary jobs at a cost of over $400,000 per worker. Even if the stimulus had in fact generated this level of employment as a durable outcome, it would still have been an extremely expensive way to generate employment.


Peter Suderman * at Reason discusses the above.

(*) Married to the Atlantic columnist Megan McArdle for those who follow such things. McArdle is an interesting read on economic matters unlike the rest of the Atlantic's website.

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 Post subject: Re: Jobs created by the faux stimulus?
PostPosted: Mon Jan 24, 2011 2:48 pm 
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A nice graphic reinforcing the point, from the Powerlinefolks.

Image


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 Post subject: Re: Jobs created by the faux stimulus?
PostPosted: Mon Jan 24, 2011 3:54 pm 
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SPQR wrote:
How about zero?

This article deconstructs a Fed study on the stimulus bill effects.

Quote:
The results suggest that though the program did result in 2 million jobs “created or saved” by March 2010, net job creation was statistically indistinguishable from zero by August of this year. Taken at face value, this would suggest that the stimulus program (with an overall cost of $814 billion) worked only to generate temporary jobs at a cost of over $400,000 per worker. Even if the stimulus had in fact generated this level of employment as a durable outcome, it would still have been an extremely expensive way to generate employment.


Peter Suderman * at Reason discusses the above.

(*) Married to the Atlantic columnist Megan McArdle for those who follow such things. McArdle is an interesting read on economic matters unlike the rest of the Atlantic's website.


No kidding. I wonder what the economic impact would have been if they had simply handed out 400K$ to each of those "workers".

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