Skip to comments.Why The U.S. Job Market Remains Terribly Bleak
Posted on 11/15/2012 2:33:25 PM PST by SeekAndFind
Full time work is about to get scarcer. The reason? By hiring part-time workers who put in less than 30 hours per week, employers can avoid a mandate dictated by the new health reform law: either provide expensive health insurance or pay a fine equal to $2,000 per worker. Avoiding the mandate becomes even more attractive for low-wage employees, since they can get highly subsidized insurance in the newly created health insurance exchanges.
Clearly the Affordable Care Act (ObamaCare) is a major factor holding back economic recovery. But its not alone. Other public policies enacted during the Obama administrations first four years have been affecting the supply side of the market.
According to the Wall Street Journal:
* Darden Restaurants [parent of Red Lobster and Olive Garden] was among the first companies to say it was changing hiring in response to the health-care law.
* Pillar Hotels & Resorts this summer began to focus more on hiring part-time workers among its 5,500 employees, after the Supreme Court upheld the health-care overhaul.
* CKE Restaurants Inc., parent of the Carls Jr. and Hardees burger chains, began two months ago to hire part-time workers to replace full-time employees who left.
* Home retailer Annas Linens Inc. is considering cutting hours for some full-time employees to avoid the insurance mandate if the healthcare law isnt repealed.
* In a July survey, 32% of retail and hospitality company respondents told [Mercer] that they were likely to reduce the number of employees working 30 hours a week or more.
A new book by University of Chicago economist Casey Mulligan explains that through a major expansion of the welfare state we are paying people not to work:
(Excerpt) Read more at forbes.com ...
Underground economy here we come.
Starve the beast.
Not just that, the realization that Obama is going to let us fall off the fiscal cliff and then announced to his slobbering zombies that the Republicans did it,
Didn’t Obama just spend 4 years focused like a Laser on destroying jobs
On the other hand, more people could end up with jobs this way.
America took a national cyanide pill last week. Simple enough.
Work is over rated, tremendously over rated.
I am happiest when not working.
Pay me to stay home and play with kitty.
Forbes acts like this is news. Where have they been hiding?
Similarly pointed out in a rare event in a straight news story earlier today. Someone probably got fired for this.
“President Obama; that’s why people aren’t buying stocks,” says Todd Schoenberger, managing principal at The BlackBay Group.
1. Companies aren’t going to hire with the increased expenses associated with Obamacare
2. People aren’t going to have money for discretionary spending when taxes going up for the 1%
3. Small business owners won’t expand
4. Higher tax rates for individuals making over $250,000 a year will result in a general lack of ambition.
Obama and his pals either haven’t got a clue and want everyone on welfare - or maybe both