Employment Act of 1946

E12307

United States federal statute macroeconomic policy law

The Employment Act of 1946 is a landmark U.S. federal law that established the government's responsibility to promote maximum employment, production, and purchasing power, laying the foundation for modern macroeconomic policy and creating the Council of Economic Advisers.

Aliases (4)

Statements (48)

Predicate	Object
instanceOf	United States federal statute → macroeconomic policy law →
aimsToPrevent	mass unemployment →
aimsToPromote	high levels of employment → sustained economic growth →
alsoKnownAs	Employment Act →
basisFor	modern U.S. macroeconomic policy framework →
branchAffected	executive branch of the United States → legislative branch of the United States →
chamberInvolved	United States House of Representatives → United States Senate →
codifiedIn	Title 15 of the United States Code →
congressNumber	79th United States Congress →
country	United States →
createdAgency	Council of Economic Advisers →
createdBody	Joint Economic Committee of the United States Congress →
dateEnacted	February 20, 1946 →
declaresNationalPolicyOn	employment → production → purchasing power →
establishesResponsibilityOf	federal government of the United States →
establishesRoleFor	Congress in economic oversight → President of the United States in economic policy →
historicalContext	post–World War II economic transition →
influencedBy	Great Depression →
jurisdiction	United States federal government →
languageOfWork	English →
legalStatus	in force →
legislativeBody	United States Congress →
longTitle	An Act to declare a national policy on employment, production, and purchasing power, and for other purposes →
policyGoal	economic stability → maximum employment → maximum production → maximum purchasing power →
presidentAtEnactment	Harry S. Truman →
publicLawNumber	Public Law 79-304 →
relatedLegislation	Full Employment and Balanced Growth Act of 1978 →
replacedProposal	Full Employment Bill of 1945 →
requires	annual Economic Report of the President → presidential reporting to Congress on economic conditions →
shortTitle	Employment Act of 1946 →
signedBy	Harry S. Truman →
subjectMatter	economic planning → employment policy → macroeconomic policy →
typeOfIntervention	Keynesian-inspired economic management →
uscSections	15 U.S.C. §§ 1021–1022 →
yearEnacted	1946 →

Referenced by (15)

Subject (surface form when different)	Predicate
Council of Economic Advisers → Economic Report of the President →	legalBasis
79th United States Congress → 79th United States Congress ("Full Employment Act (component of Employment Act of 1946)") →	notableLegislation
Employment Act of 1946 ("Employment Act") →	alsoKnownAs
Full Employment and Balanced Growth Act of 1978 →	amends
Chair of the Council of Economic Advisers (Cabinet-level) →	createdBy
Council of Economic Advisers →	describedBySource
Joint Economic Committee of Congress →	establishedBy
Truman administration domestic policy →	hasPart
Truman administration →	legislativeAchievement
Employment Act of 1946 ("An Act to declare a national policy on employment, production, and purchasing power, and for other purposes") →	longTitle
Employment Act of 1946 ("Full Employment Bill of 1945") →	replacedProposal
Employment Act of 1946 →	shortTitle
Truman administration →	significantEvent