It is commonly debated that too many regulations can strangle job creation. Under the new Trump Presidency, the White House has already taken several steps to roll back regulations imposed by the Obama White House. The Federal Trade Commission also wishes to do the same. The FTC launched the new Economic Liberty Task Force in mid-March of 2017 to addresses regulatory hurdles to job growth. The agency singles out the proliferation of occupational licensing as noteworthy. According to the FTC, approximately 30% of American jobs now require a professional license. In the 1950s, the figure rested below 5%.
While the FTC acknowledges that occupational licensing is key for protecting the public, they suggest the expansion of licensing could very well threaten economic liberty. They also claim that unnecessary and overboard restrictions create barriers, while imposing costs that could potentially harm American workers, consumers, employers, and the economy in general. The initiative is the first under new Acting Chairman Maureen K. Ohlhausen.
The FTC has long taken an approach of trying to limit the requirement of occupational licensing. Members of the FTC frequently share their knowledge after analyzing the potential competitive impact of state legislation and regulations. Over the course of many years, the FTC has commented on occupational licensing for many diverse occupations, including dentists, attorneys, electricians, potato shippers, and more. The Federal Trade Commission strongly believes in the power of competition and consistently works to promote it.
To learn more about the FTC’s statement regarding specific occupational licenses, be sure to check out their Selected Advocacy Relating to Occupational Licensing now.