Earlier this week, ESOP Association President, J. Michael Keeling sent the following letter to the editor of The Washington Post. We wanted to share it with readers. If you would like to read the article that prompted the letter, please click here.
If you would like additional information about the 2010 General Social Survey mentioned in the letter click here. The Employee Ownership Foundation sent out a release detailing the new information earlier this week.
February 6, 2012
The Washington Post
1150 15th Street NW
Washington, DC 20071
I am writing in response to the article by Zachary B. Goldfarb, “Gene B. Sperling: Obama’s Job Creator,” which ran on February 4, 2012.
Perhaps our national leaders, of both political parties, should take note that sustaining jobs is as important, if not more important, as creating jobs in order to have acceptable levels of employment. Oddly, our policy gurus seem unaware that the recently released 2010 General Social Survey, our nation’s most comprehensive survey of the American workforce after the decennial Census, that 3% of employees with employee stock ownership, which include the ESOP model and other forms of employee ownership, were laid off in 2009-2010 compared to a 12% rate for employees without employee stock ownership.
In sum, let’s have policies that encourage more widespread ownership and expansion of these policies in order to have more Americans working.
J. Michael Keeling
The ESOP Association
1726 M Street, NW
Washington, DC 20036