Marathon Pundit: CNN: Entrepreneurship down in the Obama economy

Friday, October 05, 2012

CNN: Entrepreneurship down in the Obama economy

CNN is reporting that entrepreneurship is down in the Obama economy.

Despite glimmers of good news for job creation, the state of America's startups presents a troubling sign: There are fewer of them, and those that exist are hiring fewer workers.

It's a one-two punch that poses a serious threat to the workforce, because studies have shown that startups are America's true job creators.

Historically, new companies have generated 3 million net new jobs every year. That fell to 2.5 million during the recession, and recent government figures suggest it's only gotten worse.

As for how many jobs they create, Tim Kane, an economist at the Hudson Institute, found a sharp decline.