The stimulus increased the number of employed workers by as much as 2.9 million last quarter, according to a new report by the CBO. The agency outlined other effects the legislation had on the second quarter of 2011 that wouldn't have happened otherwise. Those effects include:
- an increase in GDP by .8 percent to 2.5 percent
- a decrease in the unemployment rate by 0.5 to 1.6 percentage points
- an increase in the number of employed people by 1 million to 2.9 million
- an increase in the number of full-time equivalent jobs by 1.4 million to 4 million
Still, the stimulus’ effects are waning, and they have been since the end of 2010, according to the study.
The country's unemployment rate is currently 9.1 percent, and it's hovered around that rate all year.