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RegisterTens Of Thousands Of Job Losses Coming In A Few Weeks
Tens Of Thousands Of Job Losses Coming In A Few Weeks
by TexasBlue Sun Sep 26, 2010 8:31 pm
Tens Of Thousands Of Job Losses Coming In A Few Weeks, As Key Stimulus Program Ends
Joe Weisenthal
Business Insider
Sept. 26, 2010
The stimulus is frequently derided for not doing enough to fight unemployment, but one program that did nothing but create jobs is coming to an end.
According to the New York Times, a subsidized jobs program is coming to an end. The program allowed employers at the government, non-profit, and small business levels to get direct help paying worker salaries. It was modeled after a New Deal jobs program, and even GOP Governor Haley Barbour supported it.
But 26,000 jobs could be lost in Illinois alone. Another 12,000 will go in Philadelphia.
The problem with stimulus was that unless it created an actual sustainable recovery, it was never going to do much good in the long-term, and then when the money ran out, we'd be back to where we were before it started. Well, it didn't create a sustainable recovery, and now the money is running out.
Read the whole thing here
Joe Weisenthal
Business Insider
Sept. 26, 2010
The stimulus is frequently derided for not doing enough to fight unemployment, but one program that did nothing but create jobs is coming to an end.
According to the New York Times, a subsidized jobs program is coming to an end. The program allowed employers at the government, non-profit, and small business levels to get direct help paying worker salaries. It was modeled after a New Deal jobs program, and even GOP Governor Haley Barbour supported it.
But 26,000 jobs could be lost in Illinois alone. Another 12,000 will go in Philadelphia.
The problem with stimulus was that unless it created an actual sustainable recovery, it was never going to do much good in the long-term, and then when the money ran out, we'd be back to where we were before it started. Well, it didn't create a sustainable recovery, and now the money is running out.
Read the whole thing here
TexasBlue
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