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Cutting long term unemployed some slack

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President Obama appealed to CEOs for some empathy for those whose resumes show a long gap in employment. One might wonder why this has to become national policy, to cut some slack due to the economies harshness, but leadership like this truly helps.

By doing so, the government is accepting part of the responsibility for the problem, as it should.

The role of government is to create a positive economic environment so that business and industry may flourish. When government spends too much capital, and borrow too much for too long without reducing its financial obligations, that results in starving the economy of capital needed for economic prosperity.

Notice that this analyst did not use the word “growth.” In a sustainable economy, the objective is to create an environment that ensures a good life for all citizens. Government optimizes return on national resources as individual enterprises optimize return on their resources.

Maintaining the correct ratio of people to resources is one aspect of economic sustainability. That doesn’t necessarily translate to economic growth. Prosperity can come from optimizing performance within a limited capacity for economic performance. Understanding the limits and boundaries is imperative in a sustainable economy.

Obama has a lot more to speak about with private enterprise than forgiving a gap on resumes.

“Help wanted: Obama calls on CEOs to help fix jobless problem

BY ROBERTA RAMPTON

WASHINGTON Fri Jan 31, 2014 6:00am EST

Jan 31 (Reuters) - President Barack Obama will meet on Friday with a group of chief executive officers who have agreed to make sure their companies do not rule out hiring people just because their resumes show they have been out of work for a while.

More than 300 companies have agreed to a one-page list of "best practices" for recruiting and hiring people from the ranks of the long-term unemployed - a group that has struggled to find work in spite of an otherwise improved economy.

"It's saying that those who are long-term unemployed should get a fair shot," said Gene Sperling, Obama's top economic advisor.

The U.S. jobless rate has remained stubbornly high at 6.7 percent, but Sperling told reporters the rate would be closer to 5 percent were it not for the roadblocks to finding work for those unemployed for six months or more.

"We are trying to address what we feel is the heart of that negative cycle, which is the potential stigmatization of people merely for the sake that they are long-term unemployed," said Sperling, director of the National Economic Council.

http://www.reuters.com/article/2014/01/31/usa-obama-jobs-idUSL2N0L504S20140131

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