Report: 3 New Mexico jobs for every $1 million of Obama stimulus in state

By | June 1st, 2012

In a detailed analysis posted by New Mexico Watchdog, Jim Scarantino punches the numbers on the price of each job created or saved in the state. Using official data provided by the Recovery Accountability and Transparency Board’s recovery.gov, Scarantino estimates that the average Stimulus job in New Mexico cost federal taxpayers a walloping $335,310.

Nationally, today’s report of weak private-sector job growth and uptick in the unemployment rate to 8.2 percent continues to cast doubts on the Obama Administration’s strategy on the economy. New Mexico’s unemployment rate in April of 6.9 percent compares to 6.3 percent in April 2009.

In its December 2011 assessment of the stimulus, The White House Council of Economic Advisers reported that nationally 2.2 million jobs had been created or “saved” by the stimulus – far below the 3.5 million mark touted by President Obama [see video above] when he signed the bill in February 2009.