White House says stimulus has saved two million jobs
January 13, 2010 by Alister Bull
WASHINGTON (Reuters) – President Barack Obama’s emergency spending measures last year saved up to 2 million U.S. jobs, the White House said on Wednesday, but it warned that the outlook for the economy remained uncertain.
Obama, anxious to reduce double-digit U.S. unemployment which has dented his popularity, has already called for additional government measures to boost jobs on top of the $787 billion stimulus package he signed in February 2009.
Christina Romer, head of Obama’s Council of Economic Advisers, said she expects positive job creation by the spring, but stressed that there was definitely a need for additional “targeted action” to aid employment.
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The White House, using two different approaches to figure out the impact of the stimulus package, estimates that U.S. employment had been raised by between 1-1/2 and 2 million jobs by the end of 2009 as a result of the stimulus measures.
Romer said she thinks the stimulus measures will have saved up to 3.5 million jobs by year’s end.
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