Ok, I admit that I complain alot about the lack of technology development and small business development (and especially small technology business) in old-school economic development, but this quote from a recent article really drove home the need for stimulating small business ....
Turns out we're now at the highest youth unemployment rate since World War II, with over 9 million or 52% of youth unable to find a job. During previous recessions - early '80s, early '90s and 2000s - unemployment among 16-to-24 year olds never went above 50 percent and job growth followed within two years. This recession, though, is different.
In the NY Post article, Al Angrisani, a former assistant Labor Department secretary, states the construction of the current stimulus bill may delay small business job growth.
"There is no assistance provided for the development of job growth through small businesses, which create 70 percent of the jobs in the country," Angrisani said in an interview last week. "All those [unemployed young people] should be getting hired by small businesses."
There are six million small businesses in the country, those that employ less than 100 people, and a jobs stimulus bill should include tax credits to give incentives to those businesses to hire people, the former Labor official said.
"If each of the businesses hired just one person, we would go a long way in growing ourselves back to where we were before the recession," Angrisani noted.
Hmm. Small business and entrepreneurs as the path toward recovery? Makes perfect sense to me. But do they teach this @ IEDC?
iPhoned
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