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Many companies are cutting jobs in response to rising health care costs spurred by the Affordable Care Act, according to a new survey by the Federal Reserve Bank of New York. Roughly one-fifth of service sector and manufacturing company executives said they are reducing the number of workers in response to provisions in the healthcare law... The New York fed surveyed about 100 executives in the manufacturing sector and roughly 150 executives in the services sector located in New York State, Northern New Jersey and Fairfield County, Connecticut... The results add to a bevy of bad news related to the...

In a new working paper from the Mercatus Center, University of Chicago economist Casey Mulligan projects that the Affordable Care Act will reduce weekly employment per person by 3 percent, or roughly 4 million full-time-equivalent workers. These new estimates are significantly higher than the 2.5 million reduction in labor supply estimated by the Congressional Budget Office earlier this year. To be clear, a reduction in labor supply differs from a reduction in labor demand—a distinction many failed to recognize when the CBO first released estimates. It is not the case that the ACA will necessarily forces employees out; rather, the...

A national union that represents 300,000 low-wage hospitality workers charges in a new report that Obamacare will slam wages, cut hours, limit access to health insurance and worsen the very “income equality” President Obama says he is campaigning to fix. Unite Here warned that due to Obamacare's much higher costs for health insurance than what union workers currently pay, the result will be a pay cut of up to $5 an hour. "If employers follow the incentives in the law, they will push families onto the exchanges to buy coverage. This will force low-wage service industry employees to spend $2.00,...

Obamacare – It’s a Tax There’s no escaping it. Restaurant chains in Florida are adding an Obamacare surcharge on customers’ bills.So now you can see how much of your purchase is going to fund the Democrats’ Un-Affordable Care Act. CNN Money reported: Several restaurants in a Florida chain are asking customers to help foot the bill for Obamacare. Diners at eight Gator’s Dockside casual eateries are finding a 1% Affordable Care Act surcharge on their tabs, which comes to 15 cents on a typical $15 lunch tab. Signs on the door and at tables alert diners to the fee, which...

That the bulk of Americans (especially those 4+ million whose insurance policies have recently been cancelled as a result of the ACA) have to pay more for healthcare as a result of Obamacare, is now largely accepted and well-known. But did you know that the cost of Obamacare is slowly metastasizing to other places? Such as your restaurant bill. Presenting Exhibit A.From CNN: Several restaurants in a Florida chain are asking customers to help foot the bill for Obamacare. Diners at eight Gator's Dockside casual eateries are finding a 1% Affordable Care Act surcharge on their tabs, which comes...

Highmark Inc. laid off 132 workers in information technology and sales on Tuesday, including 65 in Pittsburgh, saying that it needed to align its workforce with its changing business.

Adding to a devastating CBO report of how Obamacare could damage the economy, a Duke University survey of top companies found that 44 percent are considering reducing health benefits to current employees due to Obamacare, confirming the fears of millions of American workers. In its December survey of chief financial officers around the country, Duke also found that nearly half are “reluctant to hire full-time employers because of the Affordable Care Act.” And 40 percent are considering shifting to part-time workers and others will hire fewer workers of fire some to avoid the costs of the program. What’s more, they...

1) 1 In 4 Voters Already Know Someone Who Has Lost Insurance because of Obamacare: One in four Americans have either lost their health insurance because of Obamacare or know someone who has, according to a new poll shared first with The Daily Caller. The YG Network Congressional District Poll of 1,652 likely voters in 11 competitive U.S. House districts indicates Obamacare will be a powerful issue that motivates voters in important races in 2014. Twenty-seven percent of respondents claimed knowing someone or personally receiving a health-insurance cancellation notice. 2) Almost all of the people signing up for Obamacare lost...

The Chicago professor examined the law's incentives for the poor not to get a job or work harder, and this week Beltway budgeteers agreed. Mr. Mulligan studies how government choices influence the incentives and rewards for work—and many more people may recognize the University of Chicago professor as a serious economist after this week. That's because, more than anyone, Mr. Mulligan is responsible for the still-raging furor over the Congressional Budget Office's conclusion that ObamaCare will, in fact, harm growth and jobs. But then the CBO ... reported that by 2024 the equivalent of 2.5 million Americans who were otherwise...

At the Health Care Summit in February 2010, Speaker Nancy Pelosi claimed Obamacare would increase 400,000 jobs “almost immediately.” “It’s about jobs. In it’s life, it [the health bill] will create 4 million jobs — 400,000 jobs almost immediately.”

Senate Majority Leader Harry Reid (D-Nev.) said the Congressional Budget Office report that shows Obamacare will make the labor force lose 2.3 million full-time workers by 2021 is positive because it lets Americans be “free agents.” “We have the CBO report, which rightfully says, that people shouldn’t have job lock. If they — we live in a country where there should be free agency. People can do what they want,” Reid told reporters outside of a close policy luncheon. “And what they’re saying here is — and the fact checkers have already done this — the Republicans talk about losing...

WASHINGTON—The Affordable Care Act is projected to reduce the number of full-time workers by roughly 2.3 million people through 2021 and insure 2 million fewer people this year than previously estimated, the Congressional Budget Office said Tuesday.

ED HENRY, FOX NEWS: Jason, on your example, and you’re talking about somebody making -- working 60 or 65 hours a week and they might now be able to work. I can’t remember if you used 30 or 35 hours a week. And they'd have health insurance, just an example. So it's a good thing that they now have health care; maybe they didn’t before. But isn’t that man or woman going from 60 or 65 hours to 30 hours -- JASON FURMAN, WHITE HOUSE ECONOMIC ADVISER: No, no. HENRY: They're making less money, right? FURMAN: I'm saying if they...

Earlier we reported how, in the CBO's own words, Obamacare would result in (at least) 2.5 million (soon to be revised much higher) workers departing the labor force over the next decade, that would stay there were it not for the skewed incentives provided by this latest welfare Ponzi scheme. Sure enough, it took the White House mere moments to share its canned retort seeking to control the major fallout this report generated as it goes, once again, against all of Obama's promises. From Reuters: "The White House on Tuesday refuted arguments that Obamacare reforms will hurt jobs, and said...

It is not coincidence that these two unofficial taxes--healthcare and college tuition--are soaring in cost, outpacing all other household expenses. I have long argued that to make an apples-to-apples comparison of real tax rates in the U.S. and other equivalently developed advanced democracies, we have to include two enormous expenses that are funded by the central state in countries such as Denmark and France: healthcare and college tuition/fees. In The Real-World Middle Class Tax Rate: 75% (July 5, 2012), I estimated that healthcare insurance (if paid out of gross income, as we self-employed workers do) in the U.S. is roughly equivalent to...

Obamacare will push the equivalent of about 2 million workers out of the labor market by 2017 as employees decide either to work fewer hours or drop out altogether, according to the latest estimates Tuesday from the Congressional Budget Office. That’s a major jump in the nonpartisan budget agency’s projections and it suggests the health care law’s incentives are driving businesses and people to choose government-sponsored benefits rather than work. “CBO estimates that the ACA will reduce the total number of hours worked, on net, by about 1.5 to 2 percent during the period from 2017 to 2024, almost entirely...

The new healthcare law will slow economic growth over the next decade, costing the nation about 2.3 million jobs and contributing to a $1 trillion increase in projected deficits, the Congressional Budget Office said in a report released Tuesday. The non-partisan group’s report found that the healthcare law’s negative effects on the economy will be “substantially larger” than what it had previously anticipated. The CBO is now estimating that the law will reduce labor force compensation by 1 percent from 2017 to 2024, twice the reduction it previously had projected. This will decrease the number of full-time equivalent jobs in...

ObamaCare has delivered another sucker punch to the middle class. This time it's sticker shock. Now that most people can get past the tech problems of HealthCare.gov and actually see the real cost of insurance plans available, they are finding that Affordable Care is a big hit to the family budget. And when the family budget gets hit in the solar plexus, guess what happens to consumer spending and the economy?

Americans are among the most mobile people on earth, but ObamaCare may soon start freezing them in place. Millions are losing their health insurance policies and being forced onto the ObamaCare exchanges, where most plans only provide local medical coverage. As Americans realize they must pay for all non-emergency medical care when they leave their home county, their decisions may have a profound impact on the real-estate market, particularly the second home sector, and on the travel business. [Snip] Americans already know that ObamaCare means higher premiums and a shrinking roster of doctors. But they have not yet realized that...

With the Patient Affordable Care Act now actively being integrated into American society, many still have no clue what its after-effects will actually be. Here’s the reality: The pain is coming and if you have yet to experience it in the form of higher insurance premiums, you can be assured that you’re going to feel it very soon in one way or another. Our entire economy is about to get hit with a sledgehammer. The following must share micro-documentary from Everything Investments details many of the changes to come, and despite what the mainstream media wants us to believe,...