The Stimulus Didn’t Help
A recent survey of members of the National Association of Business economists shows that 73% do not think the stimulus help employment.
NABE conducted the study by polling 68 of its members who work in economic roles at private-sector firms. About 73% of those surveyed said employment at their company is neither higher nor lower as a result of the $787 billion Recovery Act, which the White House’s Council of Economic Advisers says is on track to create or save 3.5 million jobs by the end of the year.
That sentiment is shared for the recently passed $17.7 billion jobs bill that calls for tax breaks for businesses that hire and additional infrastructure spending. More than two-thirds of those polled believe the measure won’t affect payrolls, while 30% expect it to boost hiring “moderately.”
However, most of the economists, 57%, do see conditions improving with increases in industrial demand, profit margins, and spending. Also that they expect GDP growth to be positive for 2010, with most expecting it to exceed 2% and a smaller portion forecasting more than 3% growth.