Obama creates 640,329 jobs at a cost of $323,739.83 per job

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management.


http://globaleconomicanalysis.blogspot.com

Inquiring minds are asking the question "How many jobs were created out of the various stimulus programs so far and at what cost per job?"

That is a good question. Not that we can believe the reported number of jobs created, but let's assume for the sake of argument that the figures provided by the administration are correct.

Inquiring minds want the official numbers on which to base the cost per job created. So please consider the administration's own numbers as reported on Track The Money Recovery.Gov as of October 30, 2009

Math To Date

Funds paid out so far =

$83.8 billion + $52.1 billion + $71.4 billion = $207.3 billion

$207,300,000,000 / 640,329 = $323,739.83 per job created

Plan Goals Math

Now let's assume this stimulus package will eventually create (or save) 3.5 million jobs and all the money (but no more) will be spent.

Here's the math again.

$787,000,000,000 /
3,500,000 =

---

$224,857.14 per job created