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9 Million Good Jobs from Climate Action: The Inflation Reduction Act of 2022

9 Million Good Jobs from Climate Action: The Inflation Reduction Act of 2022

Full Title: 9 Million Good Jobs from Climate Action: The Inflation Reduction Act of 2022
Author(s): BlueGreen Alliance
Publisher(s): BlueGreen Alliance
Publication Date: August 31, 2022
Full Text: Download Resource
Description (excerpt):

A new analysis commissioned by the BlueGreen Alliance from the Political Economy Research Institute (PERI) at the University of Massachusetts Amherst finds that the more than 100 climate, energy, and environmental investments in the Inflation Reduction Act will create more than 9 million good jobs over the next decade—an average of nearly 1 million jobs each year. That includes more than 6 million jobs created over the next 10 years by grants, loans, and tax credits and nearly 3 million jobs stimulated by new loan guarantee authority for the U.S. Department of Energy. The bill’s broad investments will also help sustain the millions of existing jobs in the clean economy.

Few pieces of legislation this century have come close to such sweeping potential for good job creation. With robust application of the bill’s strong labor standards, many of these jobs in growing sectors like clean energy, clean manufacturing, and efficient buildings will offer workers good wages and benefits. To advance economic and racial justice, registered apprenticeship programs, targeted investments, and equitable hiring practices should be used to prioritize job access for low-income workers, workers of color, and workers in environmental justice, deindustrialized, and energy transition communities.

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