The True Extent of U.S. Unemployment
In the past few years official unemployment has gone from a high of 13% to below 4%. That may seem like a huge difference, but it’s not. The ups and downs of official employment are dwarfed by chronic, massive, hidden joblessness official unemployment rates don’t reflect. The truth is, 40% of working age Americans – 100 million people -- don’t work. 80 to 85 million of them would like to.
Rx for Job Recovery
None of the multitrillion-dollar stimulus packages Congress has passed in recent years, from deep corporate tax cuts to infrastructure spending to the Inflation Reduction Act, are directly targeted to job creation. None will create anything close to the tens of millions of new jobs we need to unwind mass joblessness and get America working. There is only one policy that can create jobs at this scale, and Get America Working! has articulated it: tax things, not people.
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