Jobs Measure Enacted But May Have Little Effect, Critics Say

President Barack Obama has signed into law the Hiring Incentives to Restore Employment (HIRE) Act. The $18 billion bill is intended to encourage job creation by offering employers tax credits and a break on Social Security taxes if they hire workers who have been unemployed for at least 60 days.

Will this help at all? The outlook is pessimistic so far. From The Washington Post:

Some critics have questioned whether the legislation is big enough to make a dent in the nation’s persistent unemployment problem, arguing that the new payroll tax break is unlikely to spur much new hiring that wouldn’t have occurred otherwise.

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