Obamacare isn't leading to job cuts
While part-time work has surged during the recovery, it's actually trending down as the health care overhaul gets closer.
The economic recovery has created a raft of part-time jobs since 2008. What's to blame? Well, cross Obamacare off the list of culprits.
Part-time workers now represent 19% of total employment, which is actually below the post-recession peak of 20%, Politico notes. In fact, part-time workers are at the same level as a year ago, a number that would likely be inching up as the Affordable Care Act goes into effect in 2014.
To be sure, employers ranging from Regal Entertainment Group (RGC) to Wendy's (WEN) have said they plan to cut workers' hours. That's because the ACA requires employers with more than 50 workers to buy health insurance for staff putting in more than 30 hours per week.
The analysis on Politico by Jared Bernstein and Paul Van de Water at the Center on Budget and Policy Priorities of part-time workers supports a survey from earlier this year that found most businesses don't plan to shift from full-time to part-time workers as a way to avoid the law.
"While many (including myself) have feared that the employer penalty could lead to negative consequences in terms of full-time hiring, that just doesn't appear to be happening," writes Aaron Carroll at The Incidental Economist.
That's not to say that some companies aren't cutting workers' hours in response to Obamacare. But the data suggests that those employers are the exception, rather than the rule.
Meanwhile, involuntary part-time workers -- those who would prefer full-time work but can't find it -- have declined by one percentage point from 2012, Politico notes. If Obamacare were leading to cuts in workers' hours, that number would likely be trending up as 2014 approaches.
Still, the fact remains that part-time work is more abundant than it was pre-2008. Much of the job creation in the economic recovery has come from part-time and low-paying jobs, but the biggest burst in part-time jobs came in the 2008 and 2009, meaning Obamacare likely isn't the villain in this story.
The reason may be simply that companies don't need as much labor as they did when the economy was stronger, The New York Times notes.
Obamacare is actually leading to job growth in at least two industries: call centers and law firms. Legal firms are boosting staff to help clients understand the ACA, while call centers are going on hiring binges, tapping as many as 9,000 new employees, to help explain the law to consumers.
That raises the question of whether Obamacare might end up creating more jobs for the economy than losses.
Follow Aimee Picchi on Twitter at @aimeepicchi.
This analysis is not accurate.
Part-time work would have been a lot lower without Obama's statist policies including ObamaCare.
Unemployment should have been a lot lower; i.e. his policies have kept part-timers higher than otherwise and full-time jobs lower.
To believe that ObamaCare can add net jobs is ridiculous.
Statistics are being misused.
Aimee Pichi DOESN'T UNDERSTAND that the country is not prosperous simply if people have jobs. During Mao-era China, even people who were not-so-able-bodied had jobs. The standard of living was extremely low.
While a comfortable working environment is desirable, the foundation of a good economy is that the work produces goods that other people want to buy.
Aimee Pichi revels in all the people who are needed to explain the Affordable Care Act to ordinary Americans. These are BUREAUCRATIC JOBS that should not be created because paying for all these counselors prevents ordinary Americans from affording other things they really want.
Tell that to millions of union members that initially supported Obama and his failed ACA. They're furious about full time jobs to be reduced to part time with no benefits because of the high cost to employers at $2000 per employee.
The same for many other businesses McDonald's and others whether unionized or not which is why Obama delayed the implementing of it until after the elections next year and for obvious reasons.
The problem is the delay will raise cost even higher to make up for funding lost this year and 2014. There's no way to get around the fact that this monstrous financial healthcare act should never have passed.
It's so bad that even Congress and their staff complained and were granted a waiver by Obama to offset the cost with taxpayer subsidy. You won't hear much about it from Obama or Congress which isn't surprising because it was illegal and against the terms of the ACA.
Aimee Pichi is looking at government statistics with little idea of what they mean. First of all, we should always question the credibility of not only the particular statistic, but also the definition of the statistical category. Consider how the Consumer Price Index and the Gross Domestic Product are used to mislead us.
Many full time jobs do not lend themselves to being replaced by multiple part-time jobs. The skill level has to be low in order for the employer to replace many full time workers with a larger number of part timers. It is useless for Pichi to tell us that only a minority of full time jobs are giving way to part time jobs. It is already too much full time to part time replacement! We need productive full time jobs, and not jobs in bureaucracy like the ones explaining the Affordable Care Act!
Today, the Obama Administration changed the 50-employee rule such that the combined hours of part time employees shall be added up to be counted as equivalent full-time employees. Restaurants and other such businesses are playing a cat-and-mouse game with the government! Because of this RETORT to business owners trying to skirt the ACA, there shall be FEWER PART TIME JOBS and FEWER FULL TIME JOBS, too, in the near future.
He's been in office for what --- 5 yrs -- and everybody is STILL trying to blame somebody else for his mess. Give it up. We know what's going on even if they think we don't and it should be a national holiday when he finally moves out of the White House.
I think we would be best to shut down the government. Defund Obamacare. If the government shuts down completely for say 3-4 months, we might be able to balance the budget too!
So shut it down! It will improve our credit rating, and killing off Obamacare is the best economic medicine the USA could ask for!
Why was I soooo stupid to think that MSN- - ''MONEY'' had a ''ring of capitalism- - - when in fact they- - - appear to be NOTHING - - BUT and extension of- - the ''little cherub'' - - - Sir Jay Carney and the POTUS- - ''BS'' squad! ! ! Remember yesterday- -- - ''THIS COLUMN'' and its accusation that somehow the ''RICH were nothing but ''evil'' people with $ $ $ were because ''they'' were not investing in this ''crummy'' economy- - but were hording their $ $ $ as something akin to a ''Dicken's Novel''! And NOW this- - -- - Seriously- - - did you ''guys / gals'' come straight from the NYT'S? ? ? ? ? ? ? Fair and Balanced- - - - ''BS''! ! !
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
- Precious metals traded higher today as a weaker dollar index boosted prices.
- Apr gold rose for a third consecutive session and climbed as high as $1371.30 per ounce in late afternoon pit trade. It settled at $1370.60 per ounce, booking a gain of 1.8%.
- May silver came off its session low of $20.95 per ounce set moments after floor trade opened. It touched a session high of $21.43 per ounce and settled with a 2.6% gain at $21.36 per ounce.
- Apr ... More
More Market News
With sales suffering as a string of novelty menu items missed the mark, the fast-food chain's latest offering is a good old-fashioned sandwich with bacon.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'