Economic Stimulus: $1.2 Million Per New Job

That headline is not a typo. The number of jobs that we know were created or saved in Rhode Island was exacly six, according to The Providence Journal. The corresponding amount of stimulus funding was $706,6728, which comes out to $1,177,788 per job. BUT it is important to note that this does not take into account stimulus funds channeled through state agencies. Those add up to $1.1 billion, according to the state congressional delegation. So using the same ratio of stimulus to jobs, can we expect about 994 new jobs? Even if this comes to pass, it would still leave more than 73,000 Rhode Islanders unemployed, according to the latest data.