Green Energy
International Business Times:
Employment generation disappointing: LA City Controller
By IB Times Staff Reporter
The Los Angeles City Controller said on Thursday the city's use of its share of the $800 billion federal stimulus fund has been disappointing.
The city received $111 million in stimulus under American Recovery and Reinvestment Act (ARRA) approved by the Congress more than year ago.
"I'm disappointed that we've only created or retained 55 jobs after receiving $111 million," says Wendy Greuel, the city's controller, while releasing an audit report.
"With our local unemployment rate over 12% we need to do a better job cutting red tape and putting Angelenos back to work,” she added.
According to the report, the Los Angeles Department of Public Works generated only 45.46 jobs (the fraction of a job created or retained correlates to the number of actual hours works) after receiving $70.65 million, while the target was 238 jobs.
Similarly, the city’s department of transportation, armed with a $40.8 million fund, created only 9 jobs in place of an expected 26 jobs.
The audit says the numbers were disappointing due to bureaucratic red tape, absence of competitive bidding for projects in private sectors, inappropriate tracking of stimulus money and a laxity in bringing out timely job reports.
“While it doesn’t appear that any of the ARRA funds were misspent, the City needs to do a better job expediting the process and creating jobs,” she said.
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Green Energy
L.A. Math =- $111 million ARRA - 55 Jobs
International Business Times:
Employment generation disappointing: LA City Controller
By IB Times Staff Reporter
The Los Angeles City Controller said on Thursday the city's use of its share of the $800 billion federal stimulus fund has been disappointing.
The city received $111 million in stimulus under American Recovery and Reinvestment Act (ARRA) approved by the Congress more than year ago.
"I'm disappointed that we've only created or retained 55 jobs after receiving $111 million," says Wendy Greuel, the city's controller, while releasing an audit report.
"With our local unemployment rate over 12% we need to do a better job cutting red tape and putting Angelenos back to work,” she added.
According to the report, the Los Angeles Department of Public Works generated only 45.46 jobs (the fraction of a job created or retained correlates to the number of actual hours works) after receiving $70.65 million, while the target was 238 jobs.
Similarly, the city’s department of transportation, armed with a $40.8 million fund, created only 9 jobs in place of an expected 26 jobs.
The audit says the numbers were disappointing due to bureaucratic red tape, absence of competitive bidding for projects in private sectors, inappropriate tracking of stimulus money and a laxity in bringing out timely job reports.
“While it doesn’t appear that any of the ARRA funds were misspent, the City needs to do a better job expediting the process and creating jobs,” she said.
- The Real Economy: America’s Second-largest Employer Is A Temp Agency
Behind Wal-Mart, the second-largest employer in America is Kelly Services, a temporary work provider.Friday’s disappointing jobs report showed that part-time jobs are at anall-time high, with 28 million Americans now working part-time. The...
- The Obama Jobs Gap Is Up To 15 Million Missing Jobs
From American.com: A much-needed reminder that despite the recent upturn in the jobs market, there is still an awfully big employment hole to fill, as JPMorgan economist James Glassman points out: A useful way to assess the challenge for the US economy...
-
Obama’s DOE Mulls $6.5 Billion In “Green Energy” Loans To Create 283 Jobs,Which comes out to almost $23 million per job Investors, via Will at The Other News: The Department of Energy is set on Thursday to announce whether nine federal loan...
- The Other Hand
While The White House and Congress and the Media are focused on the debt ceiling mess it is conveniently avoiding talking about and dealing with Friday's big news. 9.2 % (counted) unemployment Only 18,000 jobs created in June 8 million jobs lost during...
- Breaking: Unemployment At 9.7% – New Counting Method Saved Or Created 541,000 Jobs
Remember this? Today at Gateway Pundit: US Loses Another 20,000 Jobs But Unemployment Rate Drops to 9.7% It’s an Obama world. Up is down. Square is round. Trucks are jokes. And, losing 20,000 jobs actually brings down the unemployment rate. The US...