---------- Forwarded message ----------
From: Center for Economic and Policy Research <[email protected]>
Date: Thu, Sep 8, 2011 at 8:43 PM
Subject: PRESS RELEASE: Statement from Dean Baker (CEPR) on The American
Jobs Act and Work Sharing
To: [email protected]
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PRESS RELEASE: Statement on Work Sharing and the American Jobs Act
*Work sharing could produce the equivalent of 2.4 million new jobs a year.*
------------------------------
*For Immediate Release:* September 8, 2011
*Contact:* Alan Barber, 571-306-2526
*Washington, D.C.*- Following the President's address to Congress and the
announcement of the American Jobs Act, CEPR co-director Dean Baker released
the following statement:
"It is encouraging to hear that President Obama included work sharing as
part of his jobs agenda. This is a job creation measure that both has been
shown to be successful and has the potential to break through partisan
gridlock.
"The basic logic of work sharing is simple. Currently the government
effectively pays for workers to be unemployed with unemployment insurance.
Rather than just paying workers who have lost their job, work sharing allows
workers to be partially compensated for shorter work hours. Instead of 1
worker getting half pay after losing her job, under work sharing 5 workers
may get 10 percent of their pay after their hours are cut by 20 percent.
"This situation is likely to be better for both employees and employers. It
allows workers to maintain their jobs and continue to upgrade their skills.
It avoids a situation where workers may end up as long-term unemployed and
find it difficult to get re-employed.
"This is also likely to be better from the standpoint of employers since it
keeps trained workers on the job. When demand picks up, they don’t need to
find and train new workers, they simply must increase hours for their
existing work force.
"This approach has been a proven success in many countries, most importantly
Germany. The unemployment rate in Germany is half of a percentage point
below its pre-recession level even though its growth has been no better than
in the United States. If a work sharing program here in the United States
can reduce dismissals and layoffs by just 10 percent, it would generate the
equivalent of 2.4 million new jobs a year.
"As a new approach, this plan may also get around Republican opposition.
Work sharing has drawn support across the political spectrum. AEI economist
Kevin Hassett, who was Senator McCain’s chief economist in his 2000
campaign, has been a vocal proponent of work sharing. The policy in Germany
is fervently embraced by Germany’s conservative government.
"It is encouraging that President Obama was willing to step outside the box
and try a new approach. If the Republicans cooperate, this policy could make
a big difference to millions of workers and their families."
Work Sharing in the Long-version Fact Sheet for the American Jobs
Act<http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=KwY006gfQyfiNEsU5AjU4KlbQ1oweSY7>(see
p.11)
###
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of the Luxembourg Income Study; and Richard Freeman, Professor of Economics
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