Also in this playlist...
This transcript is automatically generated
And as the mention a new jobs -- an August according to this morning's jobs report my next guest says the government regulations are doing more to hinder growth.
-- help it.
Joining me now out of Fox Business explosive is Geoffrey eyes and that is the managing director and principal nab against.
Economics and it do you think that investor should now be worried about because we got this number out today.
The country going into another recession.
You know I think the tragedy is that there's so many positive underlying fundamentals in the US economy I've spent a lot of time for example studying.
The impact of technology and economic growth this is an economy that wants to grow -- the question is how much can the government do to stop and and unfortunately it's doing quite of their right now.
I certainly hope we're now looking a double -- but when you add up all the factors working against us.
-- I think no one knows.
Okay -- you're saying that the government is to get out of the way what do your opinion is the government doing.
Well -- this study that we completed for the chamber of commerce earlier this year we looked at state employment policies are we talking about things like unemployment insurance.
Minimum -- is worker notification laws rare affecting layoffs.
Right to work was things in that genre.
And what we found and I think this is indicative of how important government regulation can be what we found is it just looking at that category of laws employment laws.
That if states would improve their lives basically go to the federal standard adopt best practices.
-- loan would create 750000.
And increase the rate of job formation every year.
By fifty during she's me to read of new business formation.
Every year by 52000.
New businesses every one of which would be and adding new employees so.
It just that category of laws is having a huge impact on and on employment and costing us ultimately the threat of -- -- -- that.
OK well I needed talk about regulation that's fairly talked about the study the bid for the US chamber you looked at good -- -- looked at that states -- bullish some of the good states.
And -- what are they doing correct in your opinion and.
Well in -- -- you like Texas like Virginia like Florida.
You're less likely to have minimum wage laws in excess of the federal minimum wage.
You're likely to have right to work laws that allow employees to choose whether or not to be members of unions -- not to be forced to join unions against.
There will you're likely to have unemployment sure insurance laws which don't pay people.
More demand or for longer than necessary when they become unemployed all of these things add up.
And they add up to giving people and -- -- to not work the impact of unemployment insurance as the new chairman of president Obama's council of economic advisors has has written the impact of unemployment insurance on employment this is very substantial one or 2%.
In terms of just increasing the amount of benefits for the duration of unemployment insurance on the unemployment rate.
So the things that we're doing today extending unemployment edging -- more people to join users and by that I mean that.
The administration there are actively reducing the ability of people to get jobs and -- -- look at the other don't expect California New York etc.
Right well you know the whole -- was the president has to say about all of us I think when He addresses a joint session of congress -- advises that the managing director principal navigate economics thank you.
A very much for the information with regards to regulate.
Filter by section