Job-Creation Estimates For Economic Stimulus Plan are “Uncertain”

Mark Zandi

The White House released job-creation estimates from the economic recovery package for the Eastern states on Tuesday Afternoon.

The estimates assert that the package will save or create 3 million to 4 million jobs. 800,000 of those jobs will be in 10 states in the Eastern part of the country.

Massachusetts can expect to see 83,000 jobs created or saved, while Connecticut can expect to see 44,000. 17,000 in New Hampshire, 16,000 in Maine, 13,000 in Rhode Island, and 8,000 in Vermont.In response to the estimated 3 to 4 million jobs, some critics are saying that those numbers are uncertain.

“The models are based on historic experience,” said Mark Zandi, an economist and co-founder of Moody’s. “And we’re outside anything we’ve experienced historically. We’re completely in a world we don’t understand and know.”

Zandi is one of the economists who projected that the house-passed stimulus would create 3 million jobs by the end of 2010. His projection has been a factor in the Democrats justification of a rapid passing of the stimulus bill.

“Yes, there’s a high level of uncertainty,” said Zandi. “But my estimates are as good as you’re going to get, and they’re good enough to be useful in trying to evaluate whether we should do this or not.”

Find out if any new jobs have been created in your field at Employment Crossing.