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$787 Billion Later - Job Losses Still Increase

Posted By admin || 28-Oct-2009

According to an article in the Dallas Morning News, Texas companies and local governments say they've saved or created about 1,100 jobs with stimulus-funded contracts created by the $787 billion state stimulus package; but many critics say the self-reported results are suspect.

The article said:

"The jobs include many instances in which construction companies assert that stimulus contracts allowed them to retain employees who otherwise would have been fired. As such, the report may further fuel criticism that self-reported government measures of the stimulus's impact are unreliable. Nationwide, the government estimates that stimulus contracts have saved or created 30,383 jobs."

Critics of the stimulus program for Texas businesses say that proof of the program's results should show as a decrease in job losses. However, job losses have increased and the unemployment rate has risen from 8 percent when the stimulus program began to 9.8 percent in September. Other analysts have noted that even in the housing industry and the government sector where a lot of the stimulus money went, contractors have faced an increased number of job losses and many of the jobs created are not long-term.

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