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Four ways to create jobs in the recession
Filed in archive strategy by leon on October 6, 2009
Four ways to create jobs in the recession



Unemployment in the United States will keep rising and will push beyond 10%. So how to fix it? And where can people find work?

The Wall Street Journal reports that while it will be years before lost jobs return, health care and education will remain the key areas for jobs growth. These areas are also likely to grow because they will receive massive cash injections from government.

In his blog, Bill Clinton's former secretary of Labor Robert Reich lays out 4 steps to creating jobs in the recession.

The first is to use the stimulus packages and TARP bailout funds to switch from banks to public services that people need. Like, for example, schools, child health, public health and public transportation.

Secondly, something should be done about the tax on jobs. Reich says there needs to be a one-year payroll tax holiday on the first $20,000 of income.

He also proposes giving small businesses tax credits for creating jobs.

And finally, the Small Business Administration's lending programs need to be expanded because the banks aren't lending anymore.

Reich says there are very powerful political reasons why these four measures should get through Congress. "The politics of these four steps aren't difficult. It would be hard to get a new stimulus package through Congress, but no member who's up for reelection next year when unemployment is likely to be in double digits wants to be accused by rivals of voting against steps to help small businesses, public schools, children's health, and average working people who need a tax cut."

Permalink: Four ways to create jobs in the recession
Tags: jobs  recession  Robert  Reich  2009  jobs+recession  four+ways  create+jobs 
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