White House Says $16B Of Stimulus Saved Or Created 30,000 Jobs

The first data have been posted online by the Obama administration about how many jobs it says have been created or saved by this year's economic stimulus plan.

The tally: 30,383 jobs saved-or-created thanks to $16 billion in federal contracts.

For those who like averages, that's about $527,000 per job.

(Update at 12:45 p.m. ET: Elizabeth Oxhorn, a spokeswoman for the White House on issues related to the stimulus plan, e-mails to tell us that the $16 billion includes money spent on equipment and supplies — money that presumably helped save or create some jobs at the businesses that produced those goods. The 30,383 jobs reported about today are those of workers whose paychecks came directly from part of that $16 billion. Bottomline: She makes the case that additional jobs were saved or created indirectly by that spending on equipment and supplies. That would, of course, lower the average-per-job dollar amount.)

The $16 billion represents 2% of the more than $780 billion stimulus package. In a statement, White House economist Jared Bernstein cautioned that it's "too soon to draw any global conclusions from this partial and preliminary data."

But he added that:

The direct count by Recovery Act recipients of jobs created or saved from this small percentage of the Recovery Act exceeds our projections. All signs — from private estimates to this fragmentary data — point to the conclusion that the Recovery Act did indeed create or save about 1 million jobs in its first seven months, a much needed lift in a very difficult period for our economy.

A broader report from the Obama team about the package's effects is due on Oct. 30.

There's an AP story here.



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