With the 2012 Presidential race down to two, jobs remain a hot button issue for voters across the country. This subject is especially important to the struggling construction industry, where the staggering 17.2% unemployment rate is more than double the 8.2% national average.
Here we’ll try to shed light on the candidates’ views on unemployment and their plans for putting Americans back to work.
The Common Ground
Both Barack Obama and Mitt Romney agree that, to stimulate our economy and produce job growth, we need to make the U.S. the most appealing location for investment. Reducing manufacturing regulations and taxes will bring jobs back to the U.S. The candidates also believe that tax cuts are essential to get the economy growing again.
Here’s an overview of the candidates’ positions on jobs and the economy:
Barack Obama
- President Obama requested billions of dollars for jobs in his 2013 budget.
- $350 billion of the proposed budget will go toward job-creation. The budget also addresses infrastructure improvements, and highway and bridge construction.
- The President fought for the Trade Adjustment Assistance Extension Act to provide benefits for retaining workers who have seen their jobs move overseas.
- His job plan would cut taxes for workers and put construction laborers to work through infrastructure projects.
- “It will provide a tax break for companies who hire new workers and it will cut payroll taxes in half for every working American and every small business,” the President said.
Mitt Romney
- Romney’s goal is to get Americans back to work by reducing taxes, regulation, spending, and government programs.
- The former Governor seeks to lower the corporate income tax to 25% from 35% to encourage companies to keep operations within the U.S. and to bolster the economy.
- Romney believes that taking advantage of our own natural resources will lead to energy independence and job growth.
How do you feel about the candidates’ views on employment? What do you see for the construction industry in the future?
Election years are always very interesting from a job seekers perspective, as so much rides on the elected officials being able to pass the legislation that they build their campaign platform on.
Currently, there is a noticeable shift in the hiring of mid-level staff as well as HR staff (contract and direct) , as well as temporary staff hiring, which have all historically been seen as signs that companies are beginning to hire for all roles. As companies begin to hire, they will need space. Some areas have a lot of space for lease, while other have converted space into residential living. Cities, Counties and States will be challenged with working with employers to help them find space and hire staff. As people get jobs they will be more comfortable to move (from their family’s basement, to apartments to homes) which are all good signs for the construction industry (commercial and residential).
The industry saw such a rapid drop a few years back, and the recovery is coming slower than anyone would like. However, slow and steady may be the best for the economy…. Companies and Employee alike will hopefully reap the rewards of solid opportunities that come as a result of the recovery.
What worries me the most is that many skilled craftspeople (including trades people, engineers, and architects) have left the industry or will retire soon. Compound this with so many colleges, universities as well as trade schools that are shifting away from teaching in these areas. The level of expertise that is needed may not be available.
A ready source of good talent is our returning military many of whom have not only the technical training and experience from the military, but may also have had previous experience prior to serving our country. Companies would be wise to seek out and train these veterans, and the Government would be wise to continue to invest in helping companies who focus on this viable talent pool.