Skip to comments.Will Obamacare destroy jobs?
Posted on 08/21/2013 4:23:29 PM PDT by Oldeconomybuyer
Opinions are furiously divided as to whether the unintended harm caused by health reform will outweigh its benefits. Republicans, who have always hated the whole package, howl that it will destroy jobs. Nonsense, say Democrats; it will promote growth and boost employment. Since the law has so many moving parts, it is hard to predict who is right. But there is a risk that a lot of workers will be hurt.
Mr. Obama has said that workers who like their company-provided insurance will be able to keep it. This is like promising that if you like sunshine, it wont rain. Actually, it is even more misleading. When he shakes up the health-care market, employers will have no choice but to respond.
More worrying, though, is the possibility that Obamacare may kill jobs. In 2010 the Congressional Budget Office (CBO) projected that it would shrink employment by 0.5%.
Another concern is that Obamacare will lower wages. For example, if firms that do not now offer insurance comply with the mandate, their costs will jump. Nearly 60% of such firms say they will offer coverage, according to Mercer. As health costs rise, they may pay their staff less.
Interestingly, the number of jobs in sectors most affected by Obamacare, such as retail, leisure and hospitality, have grown relatively quickly, notes Alec Phillips of Goldman Sachs. But the hours worked in such industries have grown more slowly, suggesting a reluctance to add more full-time jobs.
When the final diagnosis is done, Obamacare may have nasty side-effects.
(Excerpt) Read more at economist.com ...
It already has.
We’re only growing part time jobs now.
Isn’t that destruction quite enough, and quite obvious?
Will? I think we’ve moved on to “How many?” - or- “Will there be any jobs left?”
Is the Pope Catholic??
will it??? please...
Increases the number of gov't jobs.
Another win for King 0bama.
I know the Traitor in Chief just got back from vaca and he has a new dog to play with and I'm sure there are lots of other "American destroying" things on his to do list. So maybe he hasn't had time yet to scan this: Gallup: Unemployment Rate Jumps from 7.7% to 8.9% In 30 Days. That link goes straight to the Breitbart article. Here's the article on FR. Not the best excerpting job. Just one sentence.
Well it will certainly take away from my disposable income. If I have to come up with 1500.00 a month for “Medicaid” I’m screwed because I don’t have that available. Now if they would not deduct the 1500.00 for taxes from each paycheck then I could give them that. They base your income on Pre tax which is not what you end up. I can’t even think about it without going bananas.
Is a bear Catholic?
Will? Has anyone looked at full time employment? It’s dropping. Most new jobs are now part time in order to get around owebamacare.
Nevertheless, it’s not a bug, it’s a feature.
Does a hurricane cause damage? I know the Economist is a lefty rag but even these people know when they crunch the numbers this plan is a disaster.
MAY have? ROFL! Ask anyone who works at UPS if Obamacare "may have" affected their health care insurance.
The list of companies that Obamacare "may have" affected is growing DAILY!!!!!!
“The Economist” is left wing. The fact that they are admitting to bad economic effects is proof the fifth column is trying to retain its image of a fourth estate (the press/guardians). If they keep singing the O’s praises, they’ll lose credibility and readership.
Bear + woods + ex-lax = ?
“How Many Jobs Has Obamacare Destroyed Already?”
That’s the story not being covered.
These consequences aren’t unintentional.
Reduced hours mean more people on the dole while increasing the number of employees necessary for the same amount of work.
Killing jobs while distorting the job numbers. It was a well-planned two-fer.
It will take main stream media a couple of years to realize all the jobs are gone, about the time they lose theirs.
Will 0’s delaying implementation of 0-care, will he qualification for number of employees be delayed as well?
If employers do not reduce their exposure now they my get caught in a trap in 2014.
It will grow another huge level of feral government chock-full of well paid apparatchiks with great benefits, good pay, etc.
And beholden to the Democrats’ notions of Leviathan.
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