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Townhall
Obamacare is
Affecting Everyone
John C. Goodman
Aug 30, 2014
Millions of people are out of work and can’t find a job. Many of those
who have jobs are being forced to work part-time instead of full-time.
And those who have full-time jobs are in for a nasty surprise. Next
year’s take home pay is like likely to be smaller than what they earn
right now.
In all cases the reason is the same: Obamacare.
Why can’t people find a job? Three Federal Reserve Banks – in
Philadelphia, New York and Atlanta – have released business surveys
that confirm what many of us have been predicting. The new health law
is discouraging a significant number of firms from hiring and is also
pushing workers into part-time, rather than full time jobs.
The Federal Reserve Bank of Philadelphia survey of business in its
region finds that because of Obamacare:
18.2% of employers say they cut workers versus 3.0 percent who hired
more.
18.2% say the proportion of part-time workers is higher versus 1.5% who
say it is lower.
13.7% reported more outsourcing to other firms versus 3% with less
outsourcing.
The New York Fed found that because of Obamacare:
21% of manufacturers say they are reducing employment, while 3% are
increasing their workforce.
Among manufacturers, 19.3% say they are increasing the proportion of
part-time work, while 3.5% say they are reducing it.
An Atlanta Fed poll earlier this month found that 34% of businesses
planned to hire more part-time workers than in the past, mostly because
of a rise in the relative costs of their full-time colleagues.
As for the impact of Obamacare on health care costs, more than one
third of manufacturers told the New York Fed that Obamacare is
increasing costs “a lot” this year and more than half say the health
law will increase costs a lot next year...
Read the rest of the article at Townhall
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