Democratic Jobs
Democratic Jobs: How the Democratic Party is Promoting Job Growth and Economic Opportunity
The Democratic Party has made promoting job growth and economic opportunity a key priority. Democrats believe that a strong economy that creates good-paying jobs and expands economic security for all Americans is foundational to a healthy democracy. Some of the key ways the Democratic Party is working to foster democratic jobs include:
Supporting Small Businesses
Small businesses are a major engine of job creation and economic growth in the United States. According to the U.S. Small Business Administration, small businesses accounted for over 60% of net new jobs from 1993 to 2011. The Democratic Party supports policies aimed at helping small businesses thrive, including:
- Providing access to capital through programs like the SBA 7(a) and 504 loan programs
- Offering tax relief through deductions, credits, and lower rates
- Reducing regulatory burdens and compliance costs
- Expanding support for small business exports and access to global markets
- Improving infrastructure like broadband Internet access critical for small firms
These initiatives help small businesses grow and create new jobs in their communities.
Investing in Infrastructure
One of the most direct ways government policy can create jobs is through investing in infrastructure, such as roads, bridges, ports, broadband networks, schools, water systems, and other public assets. According to a report by the American Society of Civil Engineers, bringing U.S. infrastructure up to a good condition would require $4.6 trillion in investment and create 2.5 million new jobs through 2025. Democrats have proposed robust infrastructure plans at both the federal and state levels that would put millions of Americans to work modernizing the country's infrastructure while also improving productivity and economic growth.
Boosting American Manufacturing
American manufacturing employs over 12 million workers and accounts for over 70% of private sector research and development spending and innovation, which fuels job growth. Democrats support revitalizing U.S. manufacturing through steps like investing in workforce training and technical education, providing tax incentives, improving access to capital, and reforming trade policies to ensure American workers and firms can compete on a level playing field. For example, President Biden has pushed policies to strengthen domestic supply chains in crucial sectors like semiconductors, batteries, critical minerals and medical supplies that will help create good new manufacturing jobs.
Raising the Minimum Wage
Democrats have consistently pushed to raise the federal minimum wage, which has been stuck at $7.25 per hour since 2009. A $15 federal minimum wage would benefit around 27 million U.S. workers according to the Economic Policy Institute. Higher wages put more money in the pockets of lower income Americans to spend, boosting economic growth, and reduce employee turnover for businesses. States including California, New York and Florida with Democratic leadership have enacted $15 minimum wages to improve worker incomes and job quality.
Expanding Access to Education and Training
Access to education and skills training empowers workers and helps businesses find qualified talent. Democrats support measures to make education more affordable and accessible, including expanding early childhood education, providing two years of free community college, increasing financial aid for higher education, and doubling federal support for Pell grants. Investments in technical training, apprenticeships, and adult re-skilling programs also help workers gain skills to qualify for high-demand, higher paying jobs in fields like healthcare and advanced manufacturing.
Promoting Union Jobs
Labor unions played a key role in building America's middle class after WWII by advocating for better wages, benefits and working conditions for their members. However, declining union membership in recent decades has contributed to stagnant wages and increased income inequality. Democrats have pushed legislation to support workers who seek to unionize and give unions more tools in negotiations to increase union jobs, which on average pay over 15% more than non-union jobs with better benefits.
Investing in a Green Economy
Fighting climate change is a top priority for Democrats that also presents enormous opportunities to create good jobs. Investments in clean energy like wind, solar and electric vehicles would support millions of jobs across industries including construction, manufacturing and engineering. The CLEAN Future Act introduced by Democrats aims to achieve a 100% clean economy by 2050 while creating over 8 million new jobs.
Supporting Entrepreneurs and Innovators
Entrepreneurs and small startups play a vital role in job creation and advancing innovation. Democrats aim to nurture entrepreneurship and innovation ecosystems through steps like increasing access to startup financing programs, strengthening partnerships between universities and entrepreneurs, supporting regional innovation clusters, and improving technology transfer from federal R&D. For example, the Small Business Investment Company program deployed over $4 billion in venture capital to early stage startups during fiscal year 2021.
Conclusion
While the specific policies may evolve, the Democratic Party's commitment to fostering broad-based economic growth through creating good jobs, expanding opportunity, and strengthening America's middle class remains constant. Democrats will continue advocating for investments and reforms aimed at empowering workers, supporting businesses, building infrastructure, and maintaining U.S. competitiveness and leadership.
