The frequency with which the now-familiar “jobs saved or created” phrase is thrown around and the fact that it’s been accepted by many as an accurate means of measuring the employment situation is bewildering.
Because there is no way to reliably track and quantify this data – especially “jobs saved,” most of the numbers are far-fetched. Even the Bureau of Labor Statistics understand this…you won’t find any “saved” jobs numbers referenced in their reports.
Not only is it tough to track this type of data, which results in reporting inaccuracies, but some of the “jobs saved” numbers being touted appear to be – gasp – totally fictional.
Case in point: the Chicago Tribune ran a story Wednesday illustrating numerous irregularities in a report released by the Illinois State Board of Education summarizing the results-to-date of the economic stimulus.
A few of the lowlights:
• More than $4.7 billion in stimulus funds-to-date has gone to schools in North Chicago; the report says the money has saved the jobs of 473 teachers. Slight problem: the district employs only 290 teachers.
• Stimulus funds supposedly saved 166 jobs in Wilmette District 39. The superintendent there says otherwise – the number should be zero.
• 382 full-time teaching jobs were “saved” in Dolton-Riverdale District 148 – quite a feat since the district employs 240 teachers total.
• Your tax dollars allegedly saved 655 full-time jobs in Kankakee School District 111. The entire payroll (both full- and part-time workers) is 600. Miraculous!
Here's a figure that is based in reality: Bureau of Labor Statistics reports 10.2% unemployment rate for October. "Save" that.
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