Friday, August 23, 2013

New Normal, ObamaCare Killing Full-Time Jobs

Susan Collins and Joe Donnelly: ObamaCare's Definition of a Full-Time Job - "In Lafayette, Ind., a school district cut the hours of 200 support staff to no more than 29 per week. In Bangor, Maine, the school system is preparing to track and cap the number of hours worked by substitute teachers to ensure that they don't work more than 29 hours a week. Elsewhere, in Portland, Maine, a small business reduced a part-time employee's hours from 35 to 29. We are hearing reports like this from across the country. Why is this happening? It's happening because under the Affordable Care Act a "full-time employee" is defined as anyone working an average of 30 hours a week, rather than the traditionally accepted 40-hour work week. Employers with more than 50 full-time employees or full-time equivalents will be required to provide their employees with health insurance or potentially face a financial penalty, essentially a fine."

The Great Obamacare Workforce Exodus: "The US desperately needs to restart its job-creation machine in order to put millions of sidelined workers back in the workforce, but Washington is instead making it more expensive to hire and making regulation and cost less predictable with its reactionary and arbitrary changes to statutory law. Congress and the White House need to shelve the ACA and come up with a plan that streamlines regulation and cost so that businesses can hire full time employees rather than part-time temps."

Mish's Global Economic Trend Analysis: An Analysis of July Employment Numbers 1955 to 2013; Full-Time Employment Down Over 5 Million Since 2007: "Full time employment is actually now 5.17 million below the 2007 level. Total employment is 2.2 million below the 2007 level in spite of 13 million more people of working age." (read more at link above)

Obamacare Will Foster A Part-Time Jobs Bonanza For Our Limp Economy - Forbes: "There’s ample evidence that the Obama Administration and most advocates of ObamaCare suspected this would happen; they intended to blame premium hikes on “greedy insurers,” then run them out of business after imposing profit-killing price controls, paving the way for their final solution: a “single payer” (fully nationalized) health care system. But the premium-hike shocks have arrived earlier than the ObamaCare pushers initially expected. They didn’t know insurers plan ahead. Fearing only a possible electoral fallout, Mr. Obama last month delayed the law’s implementation until 2015 – after the 2014 mid-term elections."

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