All fast facts for Jobs & Economy are from the non-partisan Congressional Budget Office (CBO), Bureau of Labor Statistics (BLS), and Recovery.gov. They do not represent all of their reports on this subject. Some simply provide historical perspective. Occasionally minor word adjustments may have been made for clarity or to reflect the updated nature of the statement. As always, verify and view statements in their full context as often as possible.
|After falling by 7.5 million during the recession, employment increased by only about 1 million jobs (or 0.8 percent), on net, between June 2009 and October 2011. Click here to verify at Page 5|
|The American Recovery and Reinvestment Act of 2009, a measure used to stimulate jobs and the economy, distributes funds in three ways. Tax benefits ($299.8 Billion), Contracts, Grants and Loans ($226.3 Billion), and Entitlements ($220.8 Billion). Since the enactment in February of 2009, $746.9 Billion has been paid out (as of Feb 24, 2012). Click here to verify|
|The rate of unemployment in the United States has exceeded 8 percent since February 2009, making the past three years the longest stretch of high unemployment in this country since the Great Depression. Click here to verify|
|The creation of new jobs is probably hindered today not only by the weak current demand for goods and services but also by some firms’ lack of confidence in the sustainability of the economic expansion and by remaining constraints on access to credit for some firms. In addition, some businesses may be unsure and concerned about how they will be affected by the implementation of recently enacted financial and health care legislation, by the governments regulatory policies in other areas, and by possible future changes in federal tax and spending policies. Click here to verify at Page 46|
|CBO estimates that the President’s budgetary proposals would boost overall output initially but reduce it in later years. By CBO’s estimate, under the President’s proposals, the nation’s real output during the 2013–2017 period would be, on average, between 0.2 percent lower than the amount under current law and 1.4 percent higher than under current law. For the 2018–2022 period, CBO estimates that the President’s proposals would reduce real output, on average, by between 0.5 percent and 2.2 percent compared with what would occur under current law. Click here to verify|