White House Credits Stimulus With Creating or Saving 650,000
Friday, November 6th, 2009Author : Biz2Credit Advisor
Nearly 650,000 jobs have been saved or created under President Barack Obama’s economic stimulus plan, the government said Friday, and the White House declared the nation on track to meet the president’s goal of 3.5 million by the end of next year, reported the Associated Press.
The independent federal board monitoring the stimulus plan’s progress credited the program with saving or creating 640,329 jobs. Teaching and education positions made up the bulk of those jobs — about 325,000.
An earlier jobs report contained faulty data and overstated the number of jobs saved or created, according to the Associated Press.
Some Republicans voiced criticism about the numbers. Senate Minority Leader Mitch McConnell called the report “bewildering” when 3 million jobs have been lost in the past year.
Job numbers were collected from businesses, contractors, state and local governments, nonprofit groups and universities.
Calculating “jobs saved” produces an inexact estimate, and using data from so many sources can produce errors, said the AP.
Vice President Joe Biden defended the report, saying it shows the recovery plan “is operating as advertised.”
This article was submitted by Katie Kapler, Director of Online Strategy for Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to katie.kapler@biz2credit.com
Tags: businesses contractors, education, jobs, President Barack Obama's economic stimulus plan, Vice President Joe Biden
