Stimulus Spending And Job Growth: Update 1

You might remember that I wrote an article in June called "Stimulus Spending And Job Growth". In the article, I pointed out that Barack Obama said his stimulus package would create approximately 4 million new jobs over two years. I thought it might be interesting to see how well he's been doing. As you can see from the following graph, the loss of jobs for the month of June exceeded my expectations, which means that Obama's goal of 4 million new jobs only looks to be that much more difficult to attain...


Instead of the 166,667 jobs per month he originally needed to reach this target, last month he would have had to create approximately 264,143 jobs per month. Now, he has to create 300,700 jobs per month to reach his target. Good Luck Mr. Obama... we're counting on you.