April Pandemic-Caused Unemployment Rate Underscores Urgency of Getting Rid of #Neverneeded Regulations

CEI senior fellow Ryan Young indicated that April’s 14.7 percent unemployment rate was unsurprising and will probably continue in May. He called on policymakers to keep deregulating as a prime way of helping people.

“The best thing policy makers can do is to waive regulations that prevent people from picking up the pieces. Businesses will need easier access to loans, crowdfunding, and other financing than they have now. Occupational licenses that keep out new workers in order to protect existing businesses are, in many cases, more harmful now than ever. Months-long permit processes that prevent businesses from adapting to the new conditions must be eased and sped up. A great deal of economic pain is inevitable right now. Congress, the President, and the states should act immediately to minimize the unnecessary self-inflicted pain that regulations are causing right now.”

For a list and discussion on #neverneeded regulations, visit neverneeded.cei.org/.