San Francisco Fed: jobs growth policies only temporarily effective
A San Francisico Federal Reserve paper published on Monday analyses the impact of fiscal stimulus spending on US employment and finds while spending saved millions of jobs it only had a temporary impact.
Using state-level data from the American Recovery and Reinvestment Act (ARRA) enacted in February 2009, the author, Daniel Wilson, measures the impact of ARRA spending on employment and finds that spending created or saved about 800,000 jobs as of May 2010, a 0.6% increase relative to the level
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