Paycheck Protection Program saved up to 3.2 million jobs during pandemic - Business Insider

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.The Paycheck Protection Program increased US employment by 1.4 million to 3.2 million from its inception to the first week of June, Federal Reserve and MIT researchers said in aLoans made through the program also lifted employment at eligible small businesses by 2% to 4.5%, the preliminary study said.

The study suggests PPP loans were largely effective at keeping employment steady at small businesses, quashing some fears that firms wouldn't take up the relief.Warren Buffett isn't warning about sky-high stocks because he 'doesn't want to make people mad,' veteran investor Bill Smead says PPP faced widespread criticism during its rollout. Many said it was too vague in laying out its criteria for loan forgiveness, and others knocked the program for not adequately aiding some industries like restaurants. Experts also knocked the program soon after its opening when several large, publicly traded companies were able to acquire PPP loans.

$660bn to save 'up' to 3.2m jobs Cost them $200,000 to save every job, must be just about the worst program in history of government programs Could have just given $20k to each employer to keep each employee on and they could have saved 36m jobs for the same price!!

Would have saved a whole heck of a lot more had more of the PPP funds really gone to small businesses, rather than to Trump's rich and/or religious friends. But let's not forget how much of it went to Trump's organizations, and Congressional Republicans too.

😂😂🤣 nice cover for a giant robbery

Right. But how much more aid could have been effectively delivered and additional jobs saved if the program had the necessary oversight to assure proper and appropriate distribution of money? Are there any available stats on that?

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