This post by Jill Schlesinger originally appeared on CBS' MoneyWatch.com.
With a little over one out of 10 Americans out of work (and another 7.5 people part-time or under-employed); six times as many people looking for jobs as there are job openings; the average time to find a job coming in at over six months (the highest level since the Great Depression), the public is frustrated. In response, the Obama Administration is hosting a Jobs Summit today. For those in the know, a summit is one step up from a task force, though neither usually accomplishes more than a photo op.
Here are the ideas to spur job growth:
• Increase aid to state/local governments, which could stave off further job losses
• Create a 21st century version of the New Deal Works Progress Administration, which would create low wage, but large numbers of public service jobs
• Provide direct incentives to employers via tax credits
• Enact a payroll tax holiday
In today's "Reality Check," (click here to view the video) we discuss whether government efforts to tackle the unemployment problem can succeed? We have our doubts!
More on MoneyWatch:
•Laid Off? 7 Rules for a Graceful Exit
•How to Fix Unemployment
•Review: Best Personal Finance Sites
•5 Money Tips in 60 Seconds
•What's Next for Real Estate?
•Would-be Lawyer Nixed for $400,000 Student Debt