Sunday, October 11, 2009

What will it take to bring back 7 million jobs?

More than 5 percent of US jobs have disappeared since the recession began in 2007, some 7 million in all. That compares with job losses in the neighborhood of 1.5 to 2 percent during the previous two recessions.

If jobs could grow at a mid-1990s pace of 3 million a year, it would take about five years. If jobs grow at a mid-2000s pace of 2 million a year, it would take a lot longer.

lawmakers are considering a range of additional policies.

These include:

• Extending the first-time homebuyer tax credit, worth up to $8,000.
• Extending unemployment benefits and health benefits for laid-off workers.
Tax breaks for businesses that hire new employees or spend on new equipment and facilities.
• Additional federal spending on infrastructure, or aid to state governments.

two-year tax credit that is refundable against payroll taxes so that non-profits, corporations, and even public employers would get the credit, …. [this] EPI proposal calculate that the tax credit would create 2 million to 3 million jobs.

Click on the following for more details:  What will it take to bring back 7 million jobs? | csmonitor.com

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