Recovery Act On Track to Provide Jobs for 3.5 Million Americans
The Recovery Act has created or saved more than 3 million total jobs nationwide, and is on track to create an additional 500,000 by the end of the year, says a report released today by the White House Council of Economic Advisors.
In addition to directly creating jobs, the Recovery Act is also stimulating private sector investment. For example, the latest report shows that for every dollar being spent by the Recovery Act towards green energy projects, the private sector is investing an additional $3 here at home. These innovative developments fulfill a promise to strengthen American technology and manufacturing, and to provide jobs for American workers.
The American Recovery and Reinvestment Act is putting Americans back to work with major investments in our roads, highways, and rail; clean energy; high-speed broadband Internet; and electronic medical record technology. It also provided immediate relief to workers hard hit by the economy, through tax cuts for 95% of working Americans, tax cuts and loans to millions of small businesses, and extending unemployment and COBRA health benefits.