POLITICS - 1st Quarter Job Improvement

"CBO: Stimulus Put Up To 2.8M People To Work In First Quarter" by Ben Frumin, TPM 5/26/2010

It sure sounds like it's working...

The CBO now estimates that the stimulus put as many as 2.8 million people to work in the first three months of this year -- and raised GDP by as much as 4.2%.

The CBO estimates that the stimulus put 1.2 million to 2.8 million to work in the first quarter, and boosted GDP between 1.7% and 4.2%.

Thanks to the stimulus, the unemployment rate was lowered by between .7% and 1.5% in the first quarter, the CBO estimates.

Vice President Joe Biden said in a statement that the CBO report "is important validation that the action we took to rescue the economy last year has not only pulled us back from the brink, but put us on a firm path toward economic recovery."

Check out the full report here (PDF).