Stimulus Success and Challenges in Puerto Rico

Puerto Rico seems to be at the head of the pack in terms of jobs created by the federal stimulus bill. But the news isn't all sunny from the island territory, as the governor moves to slash thousands of public sector jobs.

"To be sure, the success of Puerto Rico's stimulus effort backs up the White House's promises of fairness and lack of political patronage in doling out grants. But beyond the macro-economic news, the figures also shed some insight into the package's transformative powers and how the Puerto Rico model could well test Washington's ability to fundamentally change and improve local, state, and regional economies."

"...job losses will likely continue near-term in Puerto Rico, and it's far from clear whether the nearly 17 percent unemployment will come down substantially as the shakeout of the public payroll continues. Coming on the heels of 7,000 public sector workers laid off in March, another 10,000 government employees will lose their jobs by January, nearly erasing job gains from the stimulus."

Full Story: Big winner on economic stimulus and jobs is... Puerto Rico?


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