There’s an editorial in today’s Boston Herald that is a must-read for anyone interested in improving the business climate here in Massachusetts and growing jobs in this state.
The editorial talks about the fact that Massachusetts recently passed legislation that slows the growth of unemployment insurance rates charged to employers in this state.
As a result, Massachusetts employers will save about $400 million this year as compared to what they would have paid had there been no rate reform.
But the editorial also says that reform shouldn’t stop here. Massachusetts still has one of the most generous benefits systems in the nation, and it costs Massachusetts-based employers a lot of money to run the system. That discourages investment here, and it ultimately fuels the same job problem the unemployment system is supposed to address.
If we want to grow jobs here, we need to institute “systemic” reforms of the nature the Herald talks about while still making sure we keep an adequate safety net in place for those who lose their jobs. And it shouldn’t stop with unemployment insurance. Health insurance costs are also plaguing employers, and there is more our state could do to ease this burden without sacrificing access to coverage or quality of care. We also need to look at our business tax structure and permitting structure to make our state more business-friendly.
What do you think? I’d be interested to hear your thoughts. Please post a comment below to let me know what you think.
