CBO Releases Latest on Job Losses if Policies on Greenhouse Reductions Are Enacted

The Congressional Budget Office (CBO) has concluded that total employment during the next few decades would be slightly lower if policies to reduce greenhouse gases were enacted. Furthermore “job losses in the industries that shrink would lower employment more than job gains in other industries would increase employment, thereby raising the overall unemployment rate,” according to the CBO report of May 5^th. Not all industries will be affected the same with policies to reduce greenhouse gases and it should be noted that the CBO also estimates that most job losses would be eventually recovered.  For a complete copy of the report, please view: http://www.cbo.gov/ftpdocs/105xx/doc10564/05-05-CapAndTrade_Brief.pdf