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More Phony Job Stimulus Numbers

Obama Jobs Cost 6x MoreWASHINGTON: Get us some oxygen. Staffers at the NIP passed out when they saw the “revised” job stimulus numbers last Friday. Early in the AM Recovery.gov was still reporting 30,383 jobs created or “saved” by the stimulus. (Read our coverage of those numbers here.) When the AP had examined those numbers they found 1 in 6 were bogus. We thought it odd that Robert Gibbs retorted at the time that the AP had found “only 5000” phony jobs.

Sometime later on Friday the “revised” numbers were posted. That was when we needed the oxygen. Not in our wildest dreams did we think the WH would “revise” the claim upwards to 640,000, dropping the percentage of bogus jobs from 16.7% to .8%. Pretty audacious.

Now we now why Gibbs downplayed the 5000 margin of error, he knew last week how they were going to discredit it– just inflate the denominator. Let’s forget questions about their original numbers and lets use some common sense and look at their new “numbers.”

640,329 jobs “created/saved” according to the latest reporting, at a cost of $159 billion, equalling $248,309 per job (using their numbers). And this they are proud of?

Already news outlets are digging into these numbers and finding all sorts of phony data. Fact is that there is no way to quantify “saved” jobs. And the jobs being created are government temporary jobs, at taxpayer expense. Not private sector employment. How about some real numbers from today’s report from the US Department of Labor instead? (We have archived the report here.)

Average national unemployment rate 9.8%
4-Week Average Unemployment Initial Claims 526,250
4-Week Average Unemployment 5,960,750
Average National Wage (2008) $41,334
Cost of Each Stimulus Job “Created or Saved” $248,309
Stimulus Overspent on Each Job $206,975
US National Debt $11.9 Trillion+

The White House is already discounting this type of analysis, calling it calculator abuse. Obviously staffers at the WH are graduates of our public school system (more jobs “saved”) and don’t know math from a hole in the ground. Already they are sensing the numbers aren’t good enough. Joe Biden and others in the White House, never letting a gratuitous assertion stand in the way of disinformation, are saying that the numbers are closer to 1 million jobs “created or saved!”

At least we can be grateful for HR 3220. Free home oxygen has arrived in the nick of time.

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