“First, and most obviously, the economy is doing much better today than it was when I last testified to the JEC in October 2009. At that point, we were just beginning to see the signs of recovery.”
—Christina Romer, Chair of the President’s Council of Economic Advisors, July 14, 2010
$1,161,000,000,000: The total cost of the Democrats “stimulus.” CBO estimates the cost of the bill will reach $814 billion and interest on the debt for the bill will be at least $347 billion.
9.6%: The unemployment rate for the month of August.
283,000: The number of jobs lost in June, July and August 2010.
16.7%: The rate of underemployment in August. This accounts for the unemployed, those unable to find full-time work and those discouraged from looking for work.
14,860,000: The number of unemployed Americans looking for work in the month of August.
7.9%: The level at which President Obama claimed unemployment would peak if the stimulus was passed.
3,582,000: The number of gross jobs lost since the Democrats “stimulus” was signed into law.
2,512,000: The number of net jobs lost since “stimulus” signed into law (gross number of job losses minus employment gains).
33.6: The average number of weeks that job seekers have been unemployed.
8,860,000: The number of Americans who are working only part-time because they cannot find full time employment
2,370,000: The number of unemployed Americans who want work, but who have stopped looking because of the state of the economy.
6,249,000: The number of Americans unemployed and searching for work for more than 27 weeks.
1,259,000: The number of job seekers that are new entrants to the workforce and have yet to find a job.
26.3%: The unemployment rate among job seekers between the ages of 16 and 19.
16.3%: The unemployment rate among African Americans.
30.8%: The unemployment rate among young African Americans between the ages of 16 and 24.
12%: The unemployment rate among Hispanics and Latinos.
14%: The unemployment rate among job seekers without a high school degree.
1.6%: The lethargic level of GDP growth in the second quarter of 2010—down more than 2 percent from the first quarter of 2010 and 3.4 percent below the fourth quarter of 2009.
698,000: The number of manufacturing jobs lost since the stimulus was signed into law.
45.4%: The percentage of people between the ages of 16 and 24 years old with a job. Prior to the stimulus, employment among 16 to 24 year olds had never slipped below 47.5 percent.