Promoting Job Creation - Essay Example

What if the unemployment rate in America could be controlled? It is over 9% now, what if it could be brought down significantly? Yes, this is plausible. Here is how it can become plausible. Small-scale industries should be given support so that they flourish in the US, this will create a lot of jobs for unemployed people. The money which was spent on soldiers in Iraq could have been saved and the debt of the United States could have been wiped off with the same money.

The recent downgrade in the credit rating could also have been prevented had the debt been paid off. The new policy of charging higher taxes to the rich people in America has not gone down too well with most rich people, there might be trouble brewing over. The credit rating will not be restored to normal by charging the rich Americans, it can however be restored should more jobs be created in the country. More jobs would mean more income and more income would directly mean more spending in the country.

The government will profit when the Americans spend more money in the country. Everything comes down to creating employment and employment can be created should the government support small-scale industries. Small-scale industries are more than capable of creating a plethora of jobs. This is how one initiative by the government can change the fortune of the nation. Job creation is a very important aspect that needs to be promoted; unemployment would be significantly reduced should job creation be promoted.

The economy of America is yet to recover from the recent setbacks, it needs to recover only then will more jobs be created and more Americans will get employed. Structural troubles are haunting the economy, the housing trouble for instance which was also the main reason for the recent recession impacted the economy of America severely. Americans who had borrowed money to buy houses failed to return that money to the banks as a result of which there was very little liquidity and the economy was greatly affected.