Report: Stimulus boosted jobs

Friday, November 19, 2010

WASHINGTON -- The White House says the $800 billion stimulus law continues to improve economic conditions and increase employment.

President Obama's Council of Economic Advisers issued a report Thursday saying the law has created or saved 2.7 million to 3.7 million jobs through the third quarter of this year. Obama economists predicted in 2009 that the stimulus would save or create 3.5 million jobs.

Unemployment, however, is 9.6 percent. And the report comes after an election in which voters appeared to reject assertions by Obama and Democrats that they had pulled the country out of an economic quagmire.

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