Job Creation in the Private Sector
We need more jobs. Private employers are the source of most jobs in the US. Job growth is driven primarily by new establishments, either new businesses or new operations of existing businesses. (Both types of establishments typically start out small, thus creating the idea that small businesses are the source of job growth.) Business creation and growth leads to job creation. Times are tough for new businesses - both formation and growth. Bank lending is constrained, households are saddled with debt, actual and potential sales are weak. A return to strong job growth will require time and patience. Increased regulation, higher taxes, and continued uncertainty over economic and budget policies will increase the drag on new business formation and expansion, both of which create jobs.