An Empirical Study on Environmental Policies on Unemployment in Selected States in the United States

Abstract

In the recent years, numerous environmental policies aiming at deterring environmentally hazardous actions have been put in place as a result of the increased concern for environmental quality in the United States. The unemployment rate is impacted by these regulations, which encourage environmental conservation. In addition, given structural unemployment, it is crucial to provide a just transition, providing employees and communities impacted by the move to a more sustainable economy with adaquate support. Policymakers and stakeholders must be aware of how environmental levies, in particular cap and trade, affect unemployment in order to weigh potential trade-offs and create mitigation plans for unfavorable effects. This research paper aims to investigate the relationship between cap and trade policies and unemployment rates. The literature review will encompass both environmental and economic perspectives to support the claims and discussions. Regression analysis and hypothesis testing are applied to set up relationships between cap and trade and unemployment rate. The findings may be used to draw conclusions and have interaction in discussions, dropping light on the complicated relationship among environmental policies and employment dynamics. In the long run, this study aims to provide insights for knowledgeable decision-making in crafting effective and equitable environmental policies that promote sustainable monetary growth while supporting workers and communities via the transition to a greener future.