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Lets Check If Stimulus Created New Jobs

It is true that the stimulus package worth $787 billion was aimed to create millions of jobs. United States has been recognized and identified as a country where there is plenty of scope for quick jobs and is a place for professionals in the field of medicine, computers, science, management and finance. Due to recent job cuts in various banks and multinational companies, there has been lot of financial crisis and economic downturn and there are many reasons attributed to this situation.

On one side, it appears that Americans were happy about the stimulus package as new jobs were getting created and on the other side, there were some frustrations as to what extent, this would be achieved. Therefore there were many doubts on the success rate of the stimulus package. But going by the results, Bank of America, AIG, Citi Bank and Morgan & Stanley and there many other companies which were rescued and benefited through stimulus package. In a situation where there was no way out, the Senate had acted very efficiently in enacting American Recovery Act 2009 and has efficiently worked on diversifying of funds of stimulus package in several areas that were under-developed. From common man perspective this is very appreciable and in fact, it is for the benefit of common man, stimulus package was introduced.

Many are silent now after the introduce of stimulus package, but there have been many benefits as companies have returned to a stabilized working status and there were also successful mergers and acquisitions. This success has been a major part of stimulus package and it could not be achieved otherwise with any other plan. In a country, where work rules, jobs are a very important source of income for daily expenses and payment of bills and to make savings. When jobs are lost, people go unemployed and this is will result in development of anti-social elements. Therefore, jobs are a security and source of living in developed economies. When people lose jobs, it becomes very difficult to survive. There were times when U.S was recognized as land of opportunities and there was no dearth of jobs. But in the recent years, as more number of people have been migrating to U.S. every individual needs a part time job or a full time job. Because, the cost of living in U.S is very high as compared to any other state or country in the world. Therefore jobs have become very important.

Going by the scenario of global economic crisis, U.S Government yielded an opinion that by creating millions of jobs and by expanding new areas of development, many more job opportunities can be created and this can truly save both American people and those who migrate to U.S for the purpose of employment. It is also a fact that, more people in U.S necessitates more number of jobs.

Tags: bank, check, finance, government, Income, jobs, Stimulus

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