Get Serious About Jobs
I don't know what got stuck in Bill Saporito's craw. Maybe the power to his home was still out due to Hurricane Irene. Maybe he’s frustrated that the Yankees are trailing the Red Sox in the standings. Or maybe he was just grouchy from the lack of coffee yesterday. For whatever the reason, he lashed out at the Chamber and came up with a "clever" solution to the unemployment problem: Simply hire people.
Wow! Why didn't I think of this. With a wave of a magazine editor's magic wand, 9.1% unemployment would vanish and Americans would be working and spending and happy and frolicking with unicorns in wildflower-filled fields.
Now let's get serious. At Wednesday's Labor Day briefing, Chamber Senior Vice President and Chief Economist Dr. Martin Regalia explained that businesses will hire when the economy grows fast enough to make it profitable to hire more workers.
Watch this video from Regalia's presentation. Also, read his recent post where he explains the critical connection between economic growth and job creation.
Persistently high unemployment requires the focused attention of our leaders and a plan of action not hatched in fantasy land. That’s why the Chamber will be sending a detailed jobs plan to the president and Congress next week. Bill should take a deep breath and lay off the snark until he’s taken a look.
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