Stimulus Failed to Keep Unemployment Low
Created on September 4, 2014
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Read the original report, "Not Looking for Work: Why Labor Force Participation Has Fallen During the Recovery," by James Sherk.
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President Obama promised that government spending would “stimulate” the economy and quell rising unemployment by “creating or saving” millions of jobs. In January 2009, Obama’s advisers produced a chart visualizing the positive results of his recovery plan, but actual unemployment (in red) far exceeded the White House estimates.
Sources: Unemployment data from the U.S. Department of Labor, Bureau of Labor Statistics; original chart from Christina Romer and Jared Bernstein, “The Job Impact of the American Recovery and Reinvestment Plan,” January 10, 2009.
CHART 1 • BG 2722 (2014)
Tags: labor-force-participation, employment, unemployment, jobs, recession,