Jobs and Growth

With the recession dragging on for many individuals, and the unemployment rate hovering around 10%, there is talk of new legislation to further stimulate job creation. This begs the question, how effective is policy in counteracting the business cycle and creating positive employment outcomes?

Much work has been done on the subject of employment policy and the workforce. Here's a partial reading list for those who are interested. The President's chief economic adviser, Christina Romer, co-authored one paper on the subject in the '90s that gives a good overview of federal responses to recessions; the Government Accountability Office has done extensive work reviewing the Workforce Investment Act; the National Renewable Energy Lab has looked at the economic and employment effects of renewable energy on a state-by-state basis; and the CBO has performed some macroeconomic analysis of the American Recovery and Reinvestment Act, known as the stimulus bill.