Fed Stimulus Grows NM Government More Than Broader Economy: No Surprise There

The latest report on the stimulus spending shows that government continues to benefit while unemployment rises in the broader economy. I’ve done two reports crunching data from recovery.gov, the official U.S. government website to track stimulus spending and employment impacts. The first showed that the number of jobs funded by stimulus dollars dropped during the last quarter of 2009 by 13% while the cost per job soared over 50% to $484,505 per job. That report is over at New Mexico Watchdog here.

Today’s report shows that government is gobbling up the stimulus dollars, consuming most of the funding and funding most of the jobs claimed. That report is here.

What is definitely growing is the public sector. Unemployment for everyone, though, is up sharply, to 8.3% from 7.8% in the previous quarter.