Jobs and Economy

Evening Reading: CBO Reports Recovery Act Added Up to 3.3M Jobs

Before you head home (or to your Thanksgiving destination) tonight, we’ll leave you with this Politico story about CBO’s report that the Recovery Act added up to 3.3 million jobs in the third quarter of 2011.

Some highlights:

“The economy would have been in much worse shape without the 2009 stimulus—-which increased employment in the third quarter of this year by as many as 3.3 million full-time jobs, according to a report by the Congressional Budget Office.”

“The CBO figures released Tuesday estimate that the stimulus package raised the gross domestic product this past quarter by 0.3 percent to 1.9 percent.”

“The CBO report provided a broad range of the estimated number of full-time jobs created because of the stimulus - from a low of 500,000 to a high of 3.3 million jobs.”

“However, the CBO estimates that the stimulus will raise GDP by 0.1 percent to 0.8 percent next year and employment by 200,000 to 1.1 million jobs.”