How Much Does a Job Cost? $246,436, Apparently
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The way to see some numbers isn't usually on a per basis. Many of us are on a salaried, not hourly, pay rate, and I'd bet some would not like to see their pay rate per hour. Doing so can return some pretty bleak results and the economy is bad enough as it is.
On the other end of the spectrum, however, some price conscious consumers may look at the value of a product on a per basis. "How much do these M&M's cost on a per M basis?"
Economic analyst, Ed Yardeni, committed the ultimate sin by figuring out the cost of each job created through the stimulus plan. To put the quote up from Ed:
"The Obama Administration is touting that their stimulus program has saved or created 640,329 jobs since it was enacted back in February through the end of October. This number is updated and posted on the Administration's recovery.gov web site. That amounts to $246,436 per job based on the $157.8bn that has been awarded so far! Total compensation earned by the average payroll employee during October, on an annualized basis, was $59,867. If the government had simply used the funds awarded so far to pay for a year's worth of labor, that would have paid for 2.6mn jobs!"
Well, Ed, as Obama says, "If the Economic Stimulus had only saved or created one job, it would have been worth it."
Enjoy your M&M's!
On the other end of the spectrum, however, some price conscious consumers may look at the value of a product on a per basis. "How much do these M&M's cost on a per M basis?"
Economic analyst, Ed Yardeni, committed the ultimate sin by figuring out the cost of each job created through the stimulus plan. To put the quote up from Ed:
"The Obama Administration is touting that their stimulus program has saved or created 640,329 jobs since it was enacted back in February through the end of October. This number is updated and posted on the Administration's recovery.gov web site. That amounts to $246,436 per job based on the $157.8bn that has been awarded so far! Total compensation earned by the average payroll employee during October, on an annualized basis, was $59,867. If the government had simply used the funds awarded so far to pay for a year's worth of labor, that would have paid for 2.6mn jobs!"
Well, Ed, as Obama says, "If the Economic Stimulus had only saved or created one job, it would have been worth it."
Enjoy your M&M's!
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