By: Dr. Lynn Reaser
Job growth has recently been sizable both nationally and locally. U.S. nonfarm payrolls have expanded by 2.5 million persons over the past year, while San Diego County has added about 35,000 jobs.
However, across the country, nearly 10 million people are still out of work, with one-third of them without a job for six months or longer. About 5% of job holders have been forced to accept part-time work, which is double the proportion seen in the 2000-2001 period. Wages are just barely keeping up with inflation.
What can be done to create more jobs? Policymakers desperately need to reform the corporate tax code. They need to listen to businesses and reduce the redundancies or conflicts in various regulations. They also need to find better ways to achieve the goals desired by the public but at a much lower cost in terms of lost jobs.
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