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:
In today's "Reality Check," we discuss whether government efforts to tackle the unemployment problem can succeed? We have our doubts!}
- 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