The link below is to an article in the Wall Street Journal about the President’s jobs bill. It is an excellent overview and every employer should read this. Some key points contained in the jobs plan….
- Nothing really addresses the underling cause of current unemployment; the real estate mess. Until real estate, housing in particular, starts to make a comeback we will not see tremendous growth in jobs.
- Like a domino effect, the housing crisis has created an access to capital crisis. This was cited in Inc. magazine as the number one reason why small businesses are not hiring in a robust way. According to the article below nothing about capital is addressed in the plan. Small business tax breaks are part of the bill, but they appear to be temporary and most small business owners will take those savings to the bottom line, not necessarily hire people.
- A large portion of the plan relies on government sponsored/funded construction projects. While this may offer some temporary unemployment relief for that industry, it is doubtful the Super Committee will spare the axe for these projects.
Read through the article and leave me your thoughts. The comments on the WSJ site are particularly interesting.
Article Link: http://online.wsj.com/article/SB10001424053111904836104576560593248402036.html