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Obama's Regulatory Agenda Goes Undercover
Throughout President Obama’s tenure, the number and cost of major regulations has approached record levels—exceeding $46 billion in new annual costs during his first three years. The impact has been economically crippling, of course, notwithstanding the administration’s boasts of regulatory benefits. Yet the White House seems rather shy of late about its hyperactive rulemaking, all of the president’s promises of transparency be damned.
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Not Looking for Work: Why Labor Force Participation Has Fallen
The post-recession economy has undergone the slowest recovery in 70 years. In addition to more than 8 percent unemployment, labor force participation has fallen sharply since the recession began in December 2007. Today, nearly 5 million fewer Americans are working or searching for work. The drop in unemployment since 2009 is almost entirely due to the fact that those not looking for work do not count as unemployed.Demographic factors explain one-fifth of the decreased labor force participation. The rest comes from increased school enrollment and more people collecting disability benefits.
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Government Makes It More Difficult for First-Time Job Seekers
Last week, the U.S. Department of Labor released its Employment and Unemployment Among Youth—Summer 2012 report. While many youths (ages 16-24) found a summer job this year, many did not even try. Fully 39.5 percent of the youth population neither worked nor looked for work this summer. This number has trended upward over time—it is almost double the rate (22.5 percent) from July 1989.
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Founded in 1973, The Heritage Foundation is the nation’s most broadly supported public policy organization. Heritage created the Center for Legal and Judicial Studies in 2001 to educate government officials, the media and the public about the Constitution, legal principles and how they affect public policy. | |
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