Four years after the end of the Great Recession, 23 millionAmericans remain unemployed, underemployed, or have left theworkforce discouraged. Even worse, Washington policymakers seem outof ideas.
Where the Jobs Are: Entrepreneurship and the Soul of theAmerican Economy shows how America can restore its greatjob-creation machine.
Recent research has demonstrated that virtually all net new jobcreation in the United States over the past thirty years has comefrom businesses less than a year old—true "start-ups."Start-up businesses create an average of three million new jobseach year, while existing businesses of any size or age shed a netaverage of about one million jobs annually.
Unfortunately, the vital signs of America's job-creatingentrepreneurial economy are flashing red alert. After remainingremarkably consistent for decades, the rate of new businessformation has declined significant in recent years, and the numberof new jobs created by new firms is also falling.
In Where the Jobs Are, the authors recount the findingsof a remarkable summer they spent traveling the country to meet andconduct roundtables with entrepreneurs in a dozen cities. More than200 entrepreneurs participated—explaining in specific andvividly personal terms the issues, frustrations, and obstacles thatare undermining their efforts to launch new businesses, expandexisting young firms, and create jobs. Those obstacles include adangerously underperforming education system, self-defeatingimmigration policies that thwart the attraction and retention ofthe world's best talent, access to capital difficulties, a mountingregulatory burden, unnecessary tax complexity, and severeWashington-produced economic uncertainty.
Engaging and informative, Where the Jobs Are reveals withunprecedented precision and clarity the major obstacles underminingthe fragile economic recovery, and provides a vitally importantgame plan to unleash the job-creating capacity of theentrepreneurial economy and put a beleaguered nation back towork.