Given all the yelling about ‘jobs, jobs, jobs,’ the SBA Office of Advocacy released a particularly timely report last week, aptly entitled An Analysis of Small Business and Jobs. The paper, authored by Advocacy economist Brian Headd, bills itself as a primer to help policy makers (and anyone else who happens to be interested) “understand [...]
This new recession is a really deep one, resulting in unprecedented numbers of long-term unemployed putting an unprecedented strain on that system of social safety nets I was talking about last week.
“We have a work-based safety net without any work,” said Timothy M. Smeeding, director of the Institute for Research on Poverty at the University of Wisconsin, Madison, in the article.
Nobody knows how long it’ll be before the jobs return but it’s pretty clear that what we’re doing right now — lurching along with these costly, last-minute extensions of unemployment insurance — is unsustainable.
Regular readers may recall the many times I’ve mentioned that, during the last recession, microbusiness employers with fewer than five employees continued to create jobs throughout ten of the twelve calendar quarters during which larger firms experienced labor market declines. In other words, it appeared that microbusiness employers were able to cushion the shock of [...]
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from The Journal Blog