Monday, September 22, 2014

ObamaMESS: Businesses Report Cutting Jobs due to ObamaCare

Businesses are cutting jobs due to ObamaCare, according to surveys by several regional Federal Reserve Banks.
Health economist John Goodman noted that "three Federal Reserve Banks in Philadelphia, New York and Atlanta have surveyed the folks in their area and roughly one fifth of the employers are saying they cut back on employment.
“Roughly one fifth are saying they're moving from full time to part time,” Goodman added. “More than one in ten are saying they're doing more outsourcing - all this because of the new health care reform."
Doug Holtz-Eakin, former Director of the Congressional Budget Office, said “for the smaller employers -- those that have between 20 and 49 employees -- you get a negative impact on jobs, you get a negative impact on wages in those jobs. What this means for small business as a whole is over $22 billion of earnings gone for their workers and 350,000 jobs."
Small business is responsible for the vast majority of job creation in the U.S.
The president repeatedly has delayed the mandate requiring businesses with more than 50 employees to provide insurance. But businesses know it's coming, so many avoid hiring to keep their worker rolls below 50.
Also, the mandate applies only to those who work more than 30 hours a week -- an incentive for employers to reduce hours.
Merrill Matthews of the Institute for Policy Innovation noted, "you have a kind of a natural cliff there, that keeping your employees under that magic number" relieves employers of the mandate to provide insurance.
Read the rest of the story HERE and view a related video below:



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