August 23, 2012
As required by law, CBO prepares regular reports on its estimate of the number of jobs created by the American Recovery and Reinvestment Act of 2009 (ARRA), which was enacted in response to significant weakness in the economy. In its latest report issued this afternoon, CBO provides estimates of ARRA’s impact on employment and economic output in the second quarter of calendar year 2012 (April 2012 through June 2012), as well as over the entire period since February 2009.
CBO’s current estimates of the economic effects of ARRA for 2009 through 2013 are nearly identical to those the agency published in May 2012. Some estimates of quarterly economic effects for 2012 and 2013 have changed slightly, reflecting minor shifts in the quarterly pattern of ARRA outlays.
This report was prepared by Felix Reichling of CBO’s Macroeconomic Analysis Division.