Juliet Schor's 80% Solution

From her blog, Plenitude

If the US started down the 80% solution road it would make a huge dent in unemployment. Employers could hire 5 people for every 4 jobs that are available. It’s a shorter worktime policy that doesn’t require cutting the hours and pay of people who have jobs. Instead, new people come on at 80% pay and work only 4 days. It’s especially feasible for younger workers who are getting salaries for the first time and for many of whom shorter hours are appealing.