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Stimulus Fail: Study Finds Job Losses in 49 of 50 States

Posted By John Williams On October 23, 2009 @ 10:22 am In Economics | Comments Disabled

In mid-February, President Obama signed the massive $787 billion stimulus bill into law. According to the Bureau of Labor Statistics, a net of 3.6 million jobs [1] have been lost since Obama was sworn in. In addition, the numbers show that the unemployment rate has risen from 7.6 percent to 9.8 percent …  a 26-year record high.

Now, the latest news on the impact of the stimulus bill is that 49 out of 50 states have seen more job losses.

That’s right. In a recent report from the House Ways & Means Committee [2], only the state of North Dakota has seen net job creation with a total of 1,800. The state hardest hit by the stimulus bill is California with a total of over 336,000 jobs lost. Taken collectively, the nation has seen 2.7 million jobs disappear.

John Williams currently is a member of the Young Leaders Program at the Heritage Foundation. His views do not necessarily reflect the views of the Foundation. For more information on interning at Heritage, please visit: http://www.heritage.org/about/departments/ylp.cfm [3]

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URL to article: http://blog.heritage.org/2009/10/23/stimulus-fail-study-finds-job-losses-in-49-of-50-states/

URLs in this post:

[1] 3.6 million jobs: http://www.foundry.org/2009/10/02/morning-bell-the-obama-jobs-gap-grows-again/

[2] House Ways & Means Committee: http://www.republicans.waysandmeans.house.gov/News/DocumentSingle.aspx?DocumentID=150826

[3] http://www.heritage.org/about/departments/ylp.cfm : http://www.heritage.org/about/departments/ylp.cfm

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