US stimulus creates 30,000 jobs on federal contracts
October 17, 2009
WASHINGTON: President Barack Obama’s economic stimulus plan has so far created 30,000 jobs for businesses receiving federal government contracts, according to the first firm data on the package released on Thursday.
The statistics, which cover just a tiny proportion of the $787 billion stimulus plan, and solely report on jobs created due to federal contracts, show openings are being created countrywide.
The White House downplayed the data, based on reports by recipients of stimulus money, saying it covered just $16 billion disbursed by September 30.
“It is too soon to draw any global conclusions from this partial and preliminary data,” said Jared Bernstein, the top economic advisor to Vice President Joe Biden, who oversees the stimulus package.
“But the early indications are quite positive, he said, adding the stimulus appears to have given a “much needed lift in a very difficult period for our economy.”
The data published on watchdog site Recovery.gov showed that 30,383 jobs had been created on federal contracts from just over $16 billion in funds.
Most jobs on federal contracts have been created or saved in Colorado, 4,695 according to the data, while western Washington state is second with 2,900 jobs.
The Obama White House has been fighting a fierce battle with Republicans over the results of the stimulus, and has pledged full transparency in the amount of money spent and the number of jobs created.
The president’s Council of Economic Advisors said in a report last month that the stimulus plan had created up to 1.1 million jobs in all sectors of the economy and was expected to lift the economy by three percentage points in the third quarter.
But Obama is under heavy pressure from Republicans to demonstrate that the stimulus plan is working, as unemployment hovers just below 10 per cent and is projected to rise still further.
His administration has set a goal of saving or creating 3.5 million jobs by the end of next year. A much broader report, relating to federal grants and loans, will be released on October 30.
The statistics, which cover just a tiny proportion of the $787 billion stimulus plan, and solely report on jobs created due to federal contracts, show openings are being created countrywide.
The White House downplayed the data, based on reports by recipients of stimulus money, saying it covered just $16 billion disbursed by September 30.
“It is too soon to draw any global conclusions from this partial and preliminary data,” said Jared Bernstein, the top economic advisor to Vice President Joe Biden, who oversees the stimulus package.
“But the early indications are quite positive, he said, adding the stimulus appears to have given a “much needed lift in a very difficult period for our economy.”
The data published on watchdog site Recovery.gov showed that 30,383 jobs had been created on federal contracts from just over $16 billion in funds.
Most jobs on federal contracts have been created or saved in Colorado, 4,695 according to the data, while western Washington state is second with 2,900 jobs.
The Obama White House has been fighting a fierce battle with Republicans over the results of the stimulus, and has pledged full transparency in the amount of money spent and the number of jobs created.
The president’s Council of Economic Advisors said in a report last month that the stimulus plan had created up to 1.1 million jobs in all sectors of the economy and was expected to lift the economy by three percentage points in the third quarter.
But Obama is under heavy pressure from Republicans to demonstrate that the stimulus plan is working, as unemployment hovers just below 10 per cent and is projected to rise still further.
His administration has set a goal of saving or creating 3.5 million jobs by the end of next year. A much broader report, relating to federal grants and loans, will be released on October 30.
