The latest polls from three Federal Reserve Banks out of Philadelphia, New York, and Atlanta revealed that companies are cutting jobs cut due to Obamacare, Fox News reported on Tuesday. The Federal Reserve banks revealed their poll results through surveying employers in their respective regions and results showed that roughly one-fifth of employers are stating that they have cut back on employment.
While Obama and the Democrats claim that the Affordable Care Act (Obamacare) is not affecting the job market, health economist John Goodman told Jim Angle of Fox News, “Roughly one fifth are saying they’re moving from full time to part time. More than one in ten are saying they’re doing more outsourcing… all this because of the new health care reform.”
Goodman further stated to Angle, “Even among full-time workers, their take home pay is going to go down because one thing that almost all the employers are doing in response to ObamaCare is raising the deductibles, raising the co-payments and making the employee pay more of the premium.”
At the same time, former Director of the Congressional Budget Office Doug Holtz-Eakin informed Jim Angle, “For the smaller employers, those that have between 20 and 49 employees… you get a negative impact on jobs; you get a negative impact on wages in those jobs and what this means for small business as a whole is over $22 billion of earnings gone for their workers and 350,000 jobs.”
Talk on how Obamacare would interfere with job market growth and cuts has been reported for the last couple of years but no one has listened. Goodman in 2012 said, “That by hiring part-time workers who put in less than 30 hours per week, employers can avoid a mandate dictated by Obamacare law and that the Affordable Care Act (ObamaCare) is a major factor holding back economic recovery.”
Goodman also stated that other public policies enacted during the Obama administration’s first four years have been affecting the supply side of the market. The policies the Obama administration put in place has also affected incomes in which wages has only grown 0.5% since 2009, putting a severe financial burden on consumers.