May 11, 2021
Jobs Report Shows More Stimulus Isn’t the Answer
Last Friday’s highly anticipated Labor Department employment report for April showed that the economy did not create as many jobs as expected. In an op-ed for The Hill, AAF President Douglas Holtz-Eakin explains why the labor shortage supply drove the disappointing report and argues that the American Rescue Plan was too large and poorly timed. Massive government spending plans are not the solution to get individuals back to work and the economy growing, Holtz-Eakin concludes.
Friday’s jobs report was a wakeup call. It was a timely reminder that simply more stimulus and massive government spending is not better. Instead, Congress needs to target the actual problems facing the U.S. economy, now and in the next decade.