CBO: Stimulus Created 3.3 Million Jobs... or Maybe Less Than a Sixth of That

"Nuance:"

The CBO figures released Tuesday estimate that the stimulus package raised the gross domestic product this past quarter by 0.3 percent-1.9 percent.

The CBO report provided a broad range of the estimated number of full-time jobs created because of the stimulus — from a low of 500,000 to a high of 3.3 million jobs.

Previous estimates indicated that the stimulus funded more than 400,000 full-time jobs in the third quarter, but the CBO said in its report that the figure was not a “comprehensive” look at the law’s impact.

The effects of the stimulus are fading after having peaked in the first half of 2010, the report noted.

However, the CBO estimates that the stimulus will raise GDP by 0.1 percent to 0.8 percent next year and employment by 200,000 to 1.1 million jobs.

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