How the Obama administration inflates the number of jobs created

See also:

$160,000 Per Stimulus Job!?! The White House Calls That ‘Calculator Abuse’ (ABC News)

Sour ‘stimulus’ plan reduces employment (OneNewsNow)

Featherbedding stimulus job numbers (Washington Examiner)


NY jobs don’t add up

Just 300 stimulus hires

The feds and the city are using some funny math to inflate the number of jobs created by the $787 billion stimulus program so far — with the tally including thousands of brief, low-wage summer jobs for youths.

New reports just released by the Obama administration claim New York state has “created/saved” 40,625 jobs — including 25,526 in the city.

A spokesman for Mayor Bloomberg told The Post that the city had “created” 3,000 jobs and that the rest represented already employed teachers and other city employees who faced possible layoffs without the federal “shot in the arm.”

The spokesman could not immediately give a breakdown of what the new jobs entailed. But a memo issued by Deputy Mayor Edward Skyler suggested the number of stable new jobs was under 300.

The memo had a footnote explaining that the city used a formula required by the feds to count 2,882 “full-time-equivalent” as created jobs.

That number was based on 19,518 youths who took part in a summer employment program, Skyler said. The seven-week program paid minimum wage — less than $8 per hour — for residents age 14 to 24 to work in local businesses, public facilities and nonprofit groups and included some training, officials said.

“The calculation methodology does not necessarily reflect the actual number of individuals employed as a result of the stimulus,” Skyler explained.

Stimulus-funded construction projects have generated few new jobs, other reports show. For a $175 million project to repair ferry ramps in Staten Island, the city cites 4.17 jobs through Sept. 30.

“Many projects are in their early stages, and as they advance, more hires will be made, like with any construction work,” said Bloomberg spokesman Marc LaVorgna.

“The reporting system needs to be improved,” said Chris Keeley, of Common Cause, a watchdog group. “We need information that indicates ‘Was this a seven-day job, a seven-month job or a seven-year job?’ We also need to know the pay. Were these good jobs?”

susan.edelman@nypost.com

By SUSAN EDELMAN
Last Updated: 8:27 AM, November 1, 2009
Posted: 3:30 AM, November 1, 2009

Source: The New York Post

Related information:

Ron Paul: Be Prepared for the Worst

Billionaire investor Wilbur Ross: US in The Beginning of a ‘Huge Crash in Commercial Real Estate’

We Are Facing a Total Breakdown of Financial Markets

CIT Bankruptcy Filing Expected in Days; $2.3 Billion Taxpayer Money to Be Wiped Out; Goldman Sachs Receives $285 Million In Termination Fees

$160,000 Per Stimulus Job!?! The White House Calls That ‘Calculator Abuse’

More Than 40% of President Obama’s Top-Level Fundraisers Secured Posts in His Administration

Lord Christopher Monckton: Is President Obama Poised to Surrender the Constitution and US Sovereignty to World Government?

New York Fed’s Secret Choice to Pay for AIG Swaps Squandered Billions of Taxpayer Money

US bank chargeoff rate exceeds Great Depression: Moody’s

Economist Andrew Smithers: S&P 500 Overvalued by 40%, Set to Fall

China Containerised Freight Index drops for first time since June – Global economy could be in for a double dip recession

Citigroup Is In Serious Trouble

Lazard Asset Management Fund Dumps The US Dollar

US Bank Failures Stack Up: Now 106 For 2009

Losing their lifeline: 7,000 people a day run out of unemployment benefits

Fall Of The Republic – The Presidency Of Barack H. Obama (The Full Movie HQ)

Wall Street insider Nomi Prins: ‘Recovery is not even on horizon’

Vice President Joe Biden Declares The US Is in A Depression

Niall Ferguson (’Ascent of Money’): The US Dollar Is Dying a Slow Death; There Has Been No Stock Market Rally

Gerald Celente: ‘Their is no recovery; It’s a coverup. We are already in the Greatest Depression.’

How The Federal Reserve Banksters Bailed Out The World

Death of ‘Soul of Capitalism:’ 20 reasons America has lost its soul and collapse is inevitable

Latin American leaders agree on new currency, sanction Honduras

Russia ready to abandon US dollar in oil, gas trade with China

Iran to drop US dollar from forex reserves

Sumitomo Chief Strategist: US Dollar to Hit 50 Yen, Cease as Reserve Currency

DOW at 10,000!!! Oh Wait, Make That 7,537

Marc Faber on Bloomberg: Dollar decline and inflation – Oct. 14, 2009

David Tice: Gold Heading to $3000 Unless America Hits the ‘Reset’ Button

Jim Rogers: ‘I Am Quite Sure Gold Will Go Over $2000′, Dollar Will Lose Reserve Status

US Dollar Reaches Breaking Point as Central Banks Shift Reserves

Financial Times: US mantra of strong dollar loses its value

The Federal Reserve buys Fannie Mae bonds; Timothy Geithner is a liar

Gerald Celente on the demise of the US dollar: ‘The US is failing on it’s most basic level’

Glenn Beck: What If Oil Will No Longer Be Traded In US Dollars? Deficit Spending, Printing, Monetizing Debt, The Dollars Demise

Max Keiser on RT: ‘Dollar to be buried way before 2018′

The demise of the US dollar

Iran Replaces The US Dollar With The Euro

US: Hyperinflation Nation

China advertises silver and gold investment on TV; Cheap dollars are sowing the seeds of the next world crisis

Leave a Comment