The U.S. Department of Labor will be releasing the official October 2011 unemployment report on Friday and although no one knows exactly what the unemployment figure will be, we all know that it isn’t going to be great. The stagnant economic recovery and lack of action by Congress has led President Obama to dedicate yet another weekly address to the importance of passing the American Jobs Act, saying that the nation can’t wait.
“The truth is, we can no longer wait for Congress to do its job. The middle-class families who’ve been struggling for years are tired of waiting. They need help now. So where Congress won’t act, I will.” Source: The White House
So how will the passage of the American Jobs Act benefit your state? The White House website has an interactive map with details on the impact that the $1.1 billion jobs act will have on each state in the union.
I live in Arizona and the housing market crisis has caused a major issue with employment in the state. The construction industry took a hit and the trickle down effect has caused problems in other industries. If the American Jobs Act were to pass, Arizona would see the following benefits:
- 110,000 businesses will benefit from the payroll tax cut
- 9,700 education jobs will be saved or created
- 7,100 jobs would be created by funding school infrastructure projects
- 145,000 long-term unemployed Arizonans would be able to return to work
- 27,000 people would benefit from extending unemployment insurance coverage
Of course none of this is going to come to fruition without action in Washington. Unfortunately, the only action coming out of Congress is political jockeying in advance of the 2012 election.
Photo: unk’s dump truck/Flickr