Throwing thousands of people out of work = bad idea
June 30, 2008 | Ohio | Comments (0)Tom Jackson in the Sandusky Register thinks throwing thousands people out of work while Ohio goes through very tough time is a bad idea. From the piece:
In May, the state unemployment rate hit 6.3 percent (compared to 5.5 percent nationally). The state’s jobless rate in May was the highest it has been since July 2003. In May 2007, Ohio’s unemployment rate was 5.6 percent.
The governor’s reaction to this has been to sign a bill to throw thousands of people out of work.
The bill’s ostensible purpose is to cap the annual interest rate on “payday” short term loans at 28 percent. In reality, it’s a bill to abolish the industry. Unless the law is somehow overturned, the governor’s signature will leave 6,000 Ohio residents unemployed.
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