Business Roundtable Statement on May Unemployment Figures

WASHINGTON--(BUSINESS WIRE)--“Today’s increase in the unemployment rate underscores the need for dramatic action to break down barriers to job creation. First among these are unnecessary regulations. Regulations are both a drag on job creation and on the economy. Regulations are ‘hidden taxes’ that strangle job creation.

“Today’s increase in the unemployment rate underscores the need for dramatic action to break down barriers to job creation. First among these are unnecessary regulations. Regulations are both a drag on job creation and on the economy. Regulations are ‘hidden taxes’ that strangle job creation.”

“We need action by government agencies to clear out obsolete rules and streamline permitting to reduce delays and impediments for companies to invest and grow. The private sector is the only hope for future job creation. We need to recognize this and work together to let businesses, small and large, invest in people,” said Business Roundtable President John Engler.

Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies with nearly $6 trillion in annual revenues and more than 13 million employees. BRT member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $114 billion annually in research and development – nearly half of all private U.S. R&D spending. Our companies pay more than $179 billion in dividends to shareholders.

BRT companies give nearly $9 billion a year in combined charitable contributions.

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