If you can believe it, some people actually doubt the positive impacts of the stimulus funds. Well, check the facts!
The American Recovery and Reinvestment Act (stimulus) is creating and saving jobs right here in Minnesota, as well as across the country. Minnesota has received almost $6 billion, and here’s a breakdown of where the money goes:
1/5 unemployment compensation
2/5 supplement the state’s Medicaid program
2/5 job creation
In less than three years, the stimulus saved or created over 60,000 jobs in Minnesota alone, according to the Council of Economic Advisors.
This is monumental, folks!
5/5 (all!) of the money has played a vital role in reducing Minnesota’s unemployment rate. The state’s unemployment rate is two percentage points below the national average after the July shutdown.
Job vacancies have risen 32 percent since last year. Most of these jobs are part-time and temporary jobs. This trend will lead to better economic times for our state.
Along with job vacancies, the number of unemployment compensation applications has decreased quickly.
We’re not at the finish line yet, but those who deny the great positive change coming from the stimulus are simply delusional. To keep saving and creating jobs, we have to really look at the numbers before making such outrageous claims.
Photo credit: Flickr