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CCTV Script 08/12/14

– This is the script of CNBC's news report for China's CCTV on December 8, Monday.

Welcome to the CNBC Business Daily.

Non-farm payrolls over in the U.S. surged by 32-thousand in November.

That blew past Wall Street's expectations.

The unemployment rate is now at 5.8%.

But close to 7 million Americans are working part-time jobs because they couldn't find full-time work.

And with that in mind, you can see why participation in the labor force is at levels not seen since the late 70s.

One reason why... is because the U.S. government is increasingly requiring professions to obtain a license, registration or certificate.

Something that a large number of Americans don't have time to do.

CNBC's Steve Liesman has more.

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WHAT DO A FLORIST, A MANICURIST AND AN INTERIOR DESIGNER HAVE IN COMMON?

AND...NO ... THIS IS NOT A DUMB BAR JOKE.

GIVE UP? THEY ARE ALL JOBS FOR WHICH, SOMEWHERE IN THE COUNTRY, AND SOMETIMES IN MANY PLACES, THE GOVERNMENT REQUIRES A LICENSE, REGISTRATION OR CERTIFICATE.

AND YEAH, IN SOME STATES, EVEN BARTENDERS REQUIRE LICENSES.

LICENSING, CERTIFICATION AND REGISTRATION REQUIREMENTS HAVE SOARED FROM 5% IN 1950 TO NOW COVER A THIRD OF ALL US WORKERS.

ECONOMISTS LIKE UNIVERSITY OF CHICAGO'S STEVEN DAVIS INCREASINGLY POINT TO SUCH LOCAL, STATE AND FEDERAL RULES TO EXPLAIN WHY THE US JOB MARKET HAS TAKEN LONGER TO REBOUND.

[SOT: Steven Davis/ University of Chicago Economics Professor] "New business formation, job-to-job mobility, recovering from a lost job, growing businesses in a way that they could hire more people, all of these things are constricted and constrained by unnecessary occupational licensing restrictions."

ECONOMISTS DO NOT DISPUTE THE NEED FOR TRAINING AND EDUCATION, ESPECIALLY WHEN IT COMES TO JOBS, LIKE NURSES OR PARAMEDICS, WHERE THE PROVIDERS TAKES YOUR LIFE IN THEIR HANDS.

THE TROUBLE IS THAT IN PLACES LIKE CALIFORNIA, A JOB SUCH AS AN EMERGENCY MEDICAL TECHNICIAN OR EMT, REQUIRES LESS TRAINING THAN, FOR EXAMPLE, AN INTERIOR DESIGNER..

[SOT: Steven Davis/ University of Chicago Economics Professor] "They are to some extent incumbent-protection devices. They often do serve the purpose of driving up wages for the incumbents. But they do that in way that's harmful to competition."

A REPORT CO-AUTHORED BY PRINCETON PROFESSOR ALAN KREUGER, PRESIDENT OBAMAS FORMER TOP ECONOMIC ADVISOR, FOUND THAT LICENSING AND REGISTRATION IS LINKED TO 18% HIGHER WAGES.

IN CALIFORNIA, AN INTERIOR DESIGNER REQUIRES SERIOUS PROFESSIONAL EXPERIENCE... UP TWO YEARS WORKING IN APPRENTICESHIP. BUT THOSE RULES ARE DEFENDED EVEN BY 25-YEAR-OLD ALI DAHL WHO IS SLOGGING HER WAY THROUGH THE PROCESS.

[SOT: Ali Dahl/ Interior Designer] "It is a lot but I do think it's necessary and I definitely am on the side where the professional experience is necessary prior to testing."

DAHL AN INTERIOR DESIGNER WORKING ON A PUBLIC SPACE LIKE A HOSPITAL HAS TO KNOW THE RULES TO KEEP IT SAFE for the public.

I'm Chen Qian, reporting from CNBC's Asian headquarters.

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