The Homa Files

The point of February’s $780 billion stimulus plan was to “do something” to create jobs.

White House economists Christina Romer and Jared Bernstein estimated at the time that the spending blowout would keep the jobless rate below 8%, with the rate peaking in May-June and declining thereafter.

Well, everybody has picked up on the fact that 9.8% is greater than 8%.

New news (to me) is that the actual unemployment rate was 8.5% in Feb-March when the stimulus package was launched.  By my count, 8.5% is greater than 8%, too.  Hmmmm.

http://online.wsj.com/article/SB10001424052748703298004574459341050610398.html?mod=WSJ_hps_MIDDLESixthNews

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This entry was posted on October 12, 2009 at 7:59 am and is filed under Employment - Jobs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.