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Wednesday, 24th November 2010

CEA Releases New Quarterly Analysis on Job and Economic Impact of the Recovery Act

CEA Releases New Quarterly Analysis on Job and Economic Impact of the Recovery Act
Source: Council of Economic Advisors

The Council of Economic Advisers today released its latest quarterly report on the economic impact of the Recovery Act. The report shows that the Act played a key role in changing the trajectory of the economy. Specifically, the Recovery Act added 2.7 percent to third quarter GDP growth and by some measures has exceeded the original goal of creating or saving 3.5 million jobs by the end of 2010.

The report also shows that the third quarter was the biggest yet for public investment spending, with more than $33 billion outlaid for clean energy, transportation and other infrastructure projects. According to CEA’s analysis, public investment spending was responsible for over 1 million jobs nationwide through the third quarter of 2010.

This is the fifth quarterly report the Council of Economic Advisers has submitted to Congress on the employment and economic impact of the Recovery Act.

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