Do The Math
The president-elect says he wants to “create three million new jobs” — this is a change from a few weeks ago, when he said he wanted the plan to create OR SAVE two million jobs.
He says the “No. 1 goal of my plan … is to create three million new jobs, more than 80 percent of them in the private sector.”
If you do the math: 20 percent of three million means 600,000 new government employees.
Link via Instapundit.
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We need more than a million and a half jobs every year just to absorb new workers entering the workforce. Three million isn’t all that.
For China, the number is ten million new jobs per year. Some of that is new workers and some is moving rural populations out of poverty and into city jobs. China is about to freak out over their jobs problems.
Comment by Fred — 1/5/2009 @ 6:18 pm
10 million a year? Even for an economy that’s growing at a 8-9% annual rate, that’s a lot of jobs.
Comment by BMB — 1/5/2009 @ 9:43 pm
The 600,000 government employees will be handing out the shovels to the 2.4 million private employees.
Comment by John — 1/6/2009 @ 1:52 am