The White House Job Forum opened Thursday, December 03, and it seemed to be little more than a motivational speech. The guests were asked to bring the very best they could offer and all ideas were welcome. However, the consensus seemed to be that there is little the government can do, since the private sector is where the jobs need to be created and private businesses must start hiring again.
If the Obama Administration is looking to the private sector for the rebirth of the job market then that could take some time. There are ideas of tax credits and benefits for employers who hire new workers, but as with any idea there are drawbacks.
So, the question remains is how to get private businesses to create jobs once again. It’s been stated that the job market is what is holding the economy back from a faster, stronger recovery, but there is a cyclical effect, in that without jobs less money is pumped into the economy, and with less money being spent the leaner businesses have to be.
Confidence is what the private sector needs and ideas to promote private businesses to hire are what the White House Job Forum is going to have to produce. If a company has cut workers and is doing fine as the economy recovers what motivation do they have to hire?
If the economy starts booming then businesses will look to expand, but if unemployment still effects one or two out of every ten people then the economy won’t get back to full strength anytime soon.
Hopefully, the White House Job Forum can soft out the unemployment problem. Keeping companies alive who found themselves in trouble after shady business practices is something that many feel should have taken a back seat to the job crisis, but we have now arrived at a point where unemployment, one of the most important aspects of the economy has to be addressed. Maybe the unemployed of our nation will now be given as much attention as the company executives who were given billions to save their businesses.
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