Economics

14 Million New Jobs — The Next Political Issue

Once the healthcare debate ends (if it ends?) and once cap-and-trade is passed or shelved, what is the next big political issue? One bet is jobs. Why? Over at Morningstar is a sobering article claiming that in order to get to 5 percent unemployment the economy will need to see the creation of 14 million jobs in the next five years.

It would be nice to see some creative thinking from both political parties on job creation. Those in both parties looking for brainfood can turn to the Kauffman Foundation, which promotes entrepreneur-led growth and is doing a lot of the forward thinking on job creation.

Mark Perry reminded readers of THE AMERICAN of how bad the early 1980s recession was. Well listen to what Kauffman’s Carl Schramm points out here (emphasis added):

The vast majority of new jobs during tough economic times are created by entrepreneurs, and since 1980, all net job growth has come from businesses less than five years old.

My guess is political fortune is likely to fall on the party that thinks most creatively about this issue over the next two years.

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