Stimulus Fails to Create Promised Private Sector Jobs: Americans Left to Wonder “Where Are the Jobs?”

July 9, 2010 — The Jobs Search   

On the 18-month anniversary of the release of the Romer/Bernstein report, the table below compares the Obama Administration’s January 9, 2009 prediction for how many jobs its stimulus plan would create with what actually happened, by industry.  As the table shows, most industries have not seen even one net new job since the Administration’s stimulus plan.  The sole exceptions are Government (+201,000) and Education, Health and Social Services (+434,000, which includes 100,000 social assistance jobs, 52,000 education jobs, and 282,000 health care jobs).  Through June 2010, many industries (construction, manufacturing, information, and transportation and warehousing) actually lost more jobs than the Administration predicted they would gain following stimulus.

 

Industry

Administration Prediction of Job Creation by the End of 2010

Actual Change in Jobs since Stimulus (February 2009 – June 2010)

Construction

678,000

-853,000

Manufacturing

408,000

-707,000

Financial Activities

214,000

-310,000

Retail Trade

604,000

-286,800

Professional and Business Services

345,000

-211,000

Information

50,000

-158,000

Transportation and Warehousing

98,000

-155,600

Wholesale Trade

158,000

-135,400

Other Services

99,000

-72,000

Leisure and Hospitality

499,000

-69,000

Mining

26,000

-16,900

Utilities

11,000

-7,500

Government

244,000

+201,000

Education, Health and Social Services

240,000

+434,000

Total

3,675,000

-2,347,200

 

SUBCOMMITTEE: Human Resources    SUBCOMMITTEE: Full Committee