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Title: Study: The Kenyan's Stimulus Cost 1 Million Private Sector Jobs
Source:
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URL Source: http://www.investors.com/NewsAndAna ... -Cost-1-Mil-Private-Jobs-.aspx
Published: Jun 14, 2011
Author: David Hogberg
Post Date: 2011-06-14 13:24:13 by no gnu taxes
Keywords: None
Views: 306
Comments: 5
New economics research suggests that President Obama's stimulus plan may have destroyed or forestalled employment, including more than 1 million private-sector jobs. Economists Timothy Conley, University of Western Ontario, and Bill Dupor of Ohio State University found that the stimulus resulted in a net loss of 595,000 jobs from April 2009 to September 2010. That counters research by the Congressional Budget Office, the Council of Economic Advisors, and many other economists. But Conley and Dupor's research differs in that instead of looking at the stimulus' effects on total employment, it breaks jobs into four different sectors: Goods-producing industries, including manufacturing. Health and education, leisure, and business and professional (HELP) services. Other service industries. State and local government. The authors divided employment this way "because of the large differences in trends across the sectors over the past decade." Their paper shows the stimulus created or saved 443,000 government jobs and 92,000 non-HELP service jobs. But it destroyed or forestalled 772,000 HELP jobs and 362,000 goods-producing positions. That's a net loss of 1.042 million private jobs. "I don't find that very compelling," said Dean Baker, co-director of the liberal Center for Economic and Policy Research. "Since 2008 the economy went through a wringer and trends in these sectors were broken ... furthermore, their results were only marginally significant." While acknowledging that Conley and Dupor's result were not very statistically robust, James Sherk argues that the lack of job growth is a significant finding. "If the other studies which are programmed to show that the stimulus has a positive effect on jobs were right, then you'd expect Conley-Dupor to show 2 to 3 million jobs created," said Sherk, senior policy analyst at the conservative Heritage Foundation. "That it was a negative figure ... tells you at best the stimulus was a wash." Much other research, such as that conducted by the CBO, CEA, Federal Reserve economist Daniel Wilson, and economists Mark Zandi and Alan Blinder, assume a "Keynesian" multiplier effect for government spending. Zandi and Blinder assume that government infrastructure spending has a multiplier of 1.57 — every dollar government spends on infrastructure yields $1.57 in economic growth. These studies yield an array of estimates of jobs created or saved, from 800,000 to 4.2 million. "Those papers aren't really an independent test of whether the stimulus was effective," said Sherk. "They show that the models they use are pre-programmed to show job creation. One of the problems with the multiplier effect is that it assumes that government spending is just as good as private sector spending."
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#1. To: no gnu taxes (#0)
While acknowledging that Conley and Dupor's result were not very statistically robust, James Sherk argues that the lack of job growth is a significant finding. once again, I have to wonder if you read what you post.
"Thats because your basically and idiot." Whats the 'right track/wrong track' numbers, dumbass? rotfl.
Proxy IP's are amusing.....lmao
Am I supposed to find it surprising that a bunch of moonbats don't want to believe the truth?
Now, I know I’m not going to change the minds of any of the True Believers…those who read all of Reverend Al’s sermons, and say things like, “You know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, …”. Can I get an ‘amen’??
I chuckle at the irony.
"Thats because your basically and idiot." He has you on bozo Boofer...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!""I don't find that very compelling," said Dean Baker, co-director of the liberal Center for Economic and Policy Research. "Since 2008 the economy went through a wringer and trends in these sectors were broken ... furthermore, their results were only marginally significant."
Badeye posted on 2011-04-29 10:30:22 ET
#2. To: go65 (#1)
#3. To: go65 (#1)
#4. To: no gnu taxes (#3)
Am I supposed to find it surprising that a bunch of moonbats don't want to believe the truth?
Badeye posted on 2011-04-29 10:30:22 ET
#5. To: Badeye (#2)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
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