Green Recovery: A New Program to Create Good Jobs and Start Building a Low-Carbon Economy

Source: Robert Pollin, Heidi Garrett-Peltier, James Heintz, and Helen Scharber, Center for American Progress, September 9, 2008

From an article:
A new report released today shows that the United States can create 2 million jobs over two years by investing in a rapid green economic recovery program.

The new report shows that, in addition to creating 2 million jobs nationwide over two years, this $100 billion green economic recovery package would:

• Create nearly four times more jobs than spending the same amount of money within the oil industry and 300,000 more jobs than a similar amount of spending directed toward household consumption.
• Create roughly triple the number of good jobs–paying at least $16 dollars an hour–as spending the same amount of money within the oil industry.
• Reduce the unemployment rate to 4.4 percent from 5.7 percent (calculated within the framework of U.S. labor market conditions in July 2008).
• Bolster employment especially in construction and manufacturing. Construction employment has fallen from 8 million to 7.2 million jobs over the past two years due to the housing bubble collapse. The Green Recovery program can, at the least, bring back these lost 800,000 construction jobs.

The report is accompanied by state-by-state fact sheets showing the potential impact on each state in terms of investment and new jobs.

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