Cost of Jobs 'Saved or Created'

Calculating the "bang for the buck" on the stimulus money is turning into a cottage industry of sorts. First it was the homebuyer tax credit, Thursday it was Cash for Clunkers, and Friday it was the cost of jobs "saved or created" after an updated tally from the White House.

Here's one man's calculation - there are sure to be more by the end of the day.

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More details on Friday's report can be found in this NY Times report. Apparently, most of the widely reported 650,000 "saved or created" jobs were school teachers who were not laid off due to aid from the Federal government to the states.

Comments

[basehitz:]

If you believe the White House economic "experts" of how many jobs were created/saved, this is a really pathetic result. Now, what if you think WH estimates are too flattering? In that case, we're talking numbers that even Goldman Sachs would work for. Either way, all the debt created is still on our collective balance sheet, and we will pay interest on that forever.

Can't wait for economis stimulus 2.0. Or is it 6.0 now?

Nov 01 10:47 AM

[bartpr:]

its not jobs that are created per se. it is the number of times the money is turned over that is important. what is the gov going to say, lets get into the conversation about money turning over with the public.
any measure of cost per job is meaningless.

Nov 01 01:29 PM

[paxjds:]

Hey Obama and Reid,
Give me and my wife one of these high paying jobs. You might get my vote.
With this kind of healing power by the government, my disabled wife will be able to walk and work again. If my wife gets such a handout, I will proclaim The Second Coming of Christ or Obama, whichever the All Benevolent Democrats want me to proclaim.

Nov 02 09:18 AM

[Chancer:]

There is obviously an "incentive" (like stimulus money) if companies over report new jobs or jobs saved; because over reporting is what they got.

You cannot trust the government's numbers.

The real unemployment number is 20%.

The 3% GDP growth is government jobs plus car sales and home sales that were pushed backward due to cash for clunkers and housing credit. Private business not participating in growth.

Bill Gross said the "new normal" after the recovery is permanent unemployment of 8%- double what it was before recession.

Nov 02 02:54 PM