[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC3101]
TITLE 15--COMMERCE AND TRADE
CHAPTER 58--FULL EMPLOYMENT AND BALANCED GROWTH
Sec. 3101. Congressional findings
(a) The Congress finds that the Nation has suffered substantial
unemployment and underemployment, idleness of other productive
resources, high rates of inflation, and inadequate productivity growth,
over prolonged periods of time, imposing numerous economic and social
costs on the Nation. Such costs include the following:
(1) The Nation is deprived of the full supply of goods and
services, the full utilization of labor and capital resources, and
the related increases in economic well-being that would occur under
conditions of genuine full employment, production, and real income,
balanced growth, a balanced Federal budget, and the effective
control of inflation.
(2) The output of goods and services is insufficient to meet
pressing national priorities.
(3) Workers are deprived of the job security, income, skill
development, and productivity necessary to maintain and advance
their standards of living.
(4) Business and industry are deprived of the production, sales,
capital flow, and productivity necessary to maintain adequate
profits, undertake new investment, create jobs, compete
internationally, and contribute to meeting society's economic needs.
These problems are especially acute for smaller businesses.
Variations in the business cycle and low-level operations of the
economy are far more damaging to smaller businesses than to larger
business concerns because smaller businesses have fewer available
resources, and less access to resources, to withstand nationwide
economic adversity. A decline in small business enterprises
contributes to unemployment by reducing employment opportunities and
contributes to inflation by reducing competition.
(5) Unemployment exposes many families to social, psychological,
and physiological costs, including disruption of family life, loss
of individual dignity and self-respect, and the aggravation of
physical and psychological illnesses, alcoholism and drug abuse,
crime, and social conflicts.
(6) Federal, State, and local government budgets are undermined
by deficits due to shortfalls in tax revenues and in increases in
expenditures for unemployment compensation, public assistance, and
other recession-related services in the areas of criminal justice,
alcoholism and drug abuse, and physical and mental health.
(b) The Congress further finds that:
(1) High unemployment may contribute to inflation by diminishing
labor training and skills, underutilizing capital resources,
reducing the rate of productivity advance, increasing unit labor
costs, and reducing the general supply of goods and services.
(2) Aggregate monetary and fiscal policies alone have been
unable to achieve full employment and production, increased real
income, balanced growth, a balanced Federal budget, adequate
productivity growth, proper attention to national priorities,
achievement of an improved trade balance, and reasonable price
stability, and therefore must be supplemented by other measures
designed to serve these ends.
(3) Attainment of these objectives should be facilitated by
setting explicit short-term and medium-term economic goals, and by
improved coordination among the President, the Congress, and the
Board of Governors of the Federal Reserve System.
(4) Increasing job opportunities and full employment would
greatly contribute to the elimination of discrimination based upon
sex, age, race, color, religion, national origin, handicap, or other
improper factors.
(c) The Congress further finds that an effective policy to promote
full employment and production, increased real income, balanced growth,
a balanced Federal budget, adequate productivity growth, proper
attention to national priorities, achievement of an improved trade
balance, and reasonable price stability should (1) be based on the
development of explicit economic goals and policies involving the
President, the Congress, and the Board of Governors of the Federal
Reserve System, with maximum reliance on the resources and ingenuity of
the private sector of the economy, (2) include programs specifically
designed to reduce high unemployment due to recessions, and to reduce
structural unemployment within regional areas and among particular labor
force groups, and (3) give proper attention to the role of increased
exports and improvement in the international competitiveness of
agriculture, business, and industry in providing productive employment
opportunities and achieving an improved trade balance.
(d) The Congress further finds that full employment and production,
increased real income, balanced growth, a balanced Federal budget,
adequate productivity growth, proper attention to national priorities,
achievement of an improved trade balance through increased exports and
improvement in the international competitiveness of agriculture,
business, and industry, and reasonable price stability are important
national requirements and will promote the economic security and
