President Obama projected the stimulus would create 3 million jobs over the next two years.
The New York Times reported that the bill was so-far responsible for adding 1.6 to 1.8 million jobs in its first year, according to recent data from IHS Global Insight, Macroeconomic Advisers and Moody’sEconomy.com. The Congressional Budget Office considers these to be conservative estimates, The New York Times reported.
The White House projected last week that the U.S. is likely to add 95,000 jobs every month this year, which would add up to about 1.14 million more jobs for 2010.
Add the most recent economic data to the White House projection, and the stimulus package could potentially create almost exactly 3 million jobs.
The unemployment rate continues to hover around 10 percent.