John C. Goodman M.D. writes in Townhall on the impact of Obamacare on the job market. A few excerpts:
Why can’t people find a job? Three Federal Reserve Banks – in Philadelphia, New York and Atlanta – have released business surveys that confirm what many of us have been predicting. The new health law is discouraging a significant number of firms from hiring and is also pushing workers into part-time, rather than full time jobs.
18.2% of employers say they cut workers versus 3.0 percent who hired more.
18.2% say the proportion of part-time workers is higher versus 1.5% who say it is lower.
New York Region:
21% of manufacturers say they are reducing employment, while 3% are increasing their workforce.
Among manufacturers, 19.3% say they are increasing the proportion of part-time work, while 3.5% say they are reducing it.
Almost three-fourths of employers are increasing the employee contribution for health insurance;
84% are increasing the deductible;
79% are increasing copayments; and
40% are reducing the range of covered benefits.
34% of businesses planned to hire more part-time workers than in the past, mostly because of a rise in the relative costs of their full-time colleagues.
Read the complete article at Townhall.com.