Archives for Employment

Upon learning that the US economy suffered a net loss of 80,000 jobs in March, the Democrats snapped to action and proposed a stimulus package to help relieve impacted workers.

After three consecutive months of job losses, the unemployment rate has shot up to 5.1%.

“These job numbers strengthen the case materially that we are in a recession,” Edward McKelvey, senior United States economist at Goldman Sachs told the New York Times. “They remove all but a sliver of doubt that the economy is contracting.”

If you’re a laid-off worker, you should have the best package possible. But can a job stimulus package add more workers to the employment rolls?

In a statement, House Speaker Nancy Pelosi, (D-San Francisco, Ca.) said, “Today’s disturbing unemployment numbers, combined with Chairman Bernanke’s recession warning, and threats to our standard living because of the rising costs of gas, groceries and health care compels the President to work with Congress on a second stimulus package to get our economy back on track, create jobs, and speed assistance to families struggling to make ends meet.”

The recent $145 billion stimulus package is supposed to lift consumer confidence and goose the economy by giving 130 million households about $600 per person or $1,200 per couple. High earners won’t receive these checks.

While I’m all in favor of redistributing our national debt, I’m wondering if the nation might be better off establishing tax credits for employers that create new jobs? What would you like to see happen?