Home | News & Opinion | JCN: Poor productivity growth from overregulation is June's bigger story on jobs

JCN: Poor productivity growth from overregulation is June's bigger story on jobs

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Last year the National Association of Manufacturers released a study showing the average annual cost of federal regulations on all manufacturers was $19,564, with the burden on smaller manufacturing firms (less than 50 employees) taking the hardest hit at $34,671 in yearly regulatory costs per worker.

In May, the Competitive Enterprise Institute released its latest edition of "The Ten Thousand Commandments," an annual update of the Federal government's own estimate of the size of the federal regulatory burden. CEI reports an annual burden of $11,724 per employee for small businesses with fewer than 50 employees. If the nearly $1.9 trillion total annual cost of U.S. government regulations were an independent nation, then it would have the world's 10th largest economy.

"The girth of the federal government's overreach is bigger than the whole economy of a major trading partner such as Canada," concluded Richardson. "The American worker won't keep pace with them if our businesses are forced to spend so much on new rules rather than new tools."

 

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