Obamacare to blame for losing full time jobs, Duke Fuqua School of Business CFO Magazine Global Business Outlook Survey December 11, 2013 predicted, Goldman Sachs chief economist Jan Hatzius stated jobs impact

Obamacare to blame for losing full time jobs, Duke Fuqua School of Business CFO Magazine Global Business Outlook Survey December 11, 2013 predicted, Goldman Sachs chief economist Jan Hatzius stated jobs impact

“All of the employment gains among women since the recession hit in December 2007 have been taken by foreigners, even at a time when the numbers of U.S.-born women surged more than 600,000, according to new federal statistics.”…Washington Examiner August 7, 2015

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“We are being lied to on a scale unimaginable by George Orwell.”…Citizen Wells

 

 

When Obamacare was passed logic dictated that full time jobs would be impacted.

One did not have to be a rocket scientist to figure that out.

The business world obviously arrived at that conclusion too.

From the Duke University Fuqua School of Business CFO Magazine Global Business Outlook Survey December 11, 2013.

“EMPLOYMENT EFFECTS OF THE AFFORDABLE CARE ACT

Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.

“The inadequacies of the ACA website have grabbed a lot of attention, even though many of those issues have been or can be fixed,” said John Graham, Duke Fuqua School of Business finance professor and director of the survey. “Our survey points to a more detrimental and potentially long-lasting problem. An unintended consequence of the Affordable Care Act will be a reduction in full-time employment growth in the United States. Companies plan to increase full-time employment by 1.4 percent in 2014, a rate of growth which is down from last quarter and unlikely to put a dent in the unemployment rate. CFOs
indicate that full-time employment growth would be stronger in the absence of the ACA.”

“I doubt the advocates of this legislation would have foretold the negative impact on employment,” said Campbell R. Harvey, a professor of finance at Fuqua and a founding director of the survey. “The impact on the real economy is startling. Nearly one-third of firms may either terminate employees or hire fewer people in the future as a direct result of ACA.”

In addition, 44 percent of companies say they will consider reducing health benefits to current employees in response to the ACA.”

Read more:

http://www.cfosurvey.org/14q1/PressRelease.pdf

WE WERE WARNED.

From Zero Hedge June 11, 2016.

“It’s Time To Blame Obamacare For Losing So Many Full-Time Jobs

Had a sinking feeling about the economy of late? It may not be your imagination. Economic indicators have flashed yellow for much of 2016, and the latest jobs report shows further depletion of the work force and a dearth of job creation. That trend, says one major bank, may be attributable to President Barack Obama’s signature legislation.

Last Friday, the Bureau of Labor Statistics (BLS) released the worst jobs report in almost six years. The US economy only added 38,000 jobs, less than a tenth of the estimated 458,000 Americans who left the workforce. In fact, thanks to revisions made to the March and April reports, that exceeds the number of jobs created in the past three months (348,000) by more than 100,000. The workforce participation rate dropped back to 62.6 percent, near a 40-year low, and more than three full points below its level at the start of the recovery in June 2009 (65.7 percent).

To call this a wide miss is an understatement. Economists had predicted a moderate jobs gain, with Reuters forecast. The unemployment rate dropped to 4.7 percent, but analysts widely noted that this was a result of the large exodus from the workforce. That included an increase of 130,000 among those who have left the workforce but still desire employment, outnumbering the jobs added in May.

The news on jobs might possibly be worse than even this indicates. An economist at Johns Hopkins called into question the seasonal adjustment calculations used by the BLS. Jonathan Wright recalculated the data and concluded that the economy had lost 4,000 jobs. Instead of a three-month average jobs gain of 116,000 – well below the 131,000-jobs-added level needed to keep up with population growth at a workforce participation rate of 62.6 percent — the three-month average was actually 107,000, and 114,000 for all of 2016.”

“One data point in particular might give at least some indication why. The number of part-time workers in jobs for economic reasons shot up by 468,000, apart from the 458,000 that left the workforce altogether. Slack work or business conditions accounted for 181,000 of these jobs, while another 77,000 could only find part-time work.”

“That may not seem like a high number, given the amount of people in the US workforce. However, as we approach the seventh anniversary of the Obama recovery, the continued rise in involuntary part-time workers demonstrates a fundamental weakness in the economy, Phillips argues. As Joseph Lawler noted for The Washington Examiner, the number of people forced into part-time work has grown by over 600,000 people in the last seven months. It’s not getting better – it’s getting worse.

One key area has grown exponentially in the recovery period, though – regulation at every level. Hudson Institute fellow Marie-Josée Kravis wrote in Friday’s Wall Street Journal that federal regulation twists incentives and punishes small businesses, which provides the engine of job creation in the American economy. In 2010, Kravis notes, federal regulation put a burden on small businesses that cost 20 percent more than it did large companies, thanks to economies of scale.

Obamacare makes that situation even worse. Larger companies can distribute the costs of increased health insurance costs and the employer mandate more broadly. Smaller employers, which have less market clout and smaller room for error, feel the shock of the employer coverage mandate more directly. The ACA directly incentivizes employers to use part-time rather than full-time workers, and smaller businesses have the necessity of grasping at any competitive advantage they can get. Six years after its passage and almost three years after its implementation, Goldman Sachs still sees Obamacare as a prime driver of forced part-time employment.

As Kravis concludes, what we have been doing for the last seven years of the weakest recovery on record clearly hasn’t worked. It’s time to try something new – like getting rid of job-killing regulation, with Obamacare first on the list to go.”

Read more:

http://www.zerohedge.com/news/2016-06-11/its-time-blame-obamacare-losing-so-many-full-time-jobs

From Citizen Wells June 9, 2016.

“Goldman Crushes Democrat’s Dreams: Shows Obamacare Has Cost “A Few Hundred Thousand Jobs””

“We suspect Lloyd Blankfein will be receiving a call from The White House (or Treasury) very soon as Goldman Sachs’ economists did the unthinkable in the age of political correctness – while investigating the state of under-employment in America, the smartest people in the room found that ObamaCare has led to a rise in involuntary part-time employment, estimating that “a few hundred thousand workers” have been forced to cut hours and has “created disincentives for full-time employment.”

Goldman’s Jan Hatzius explains that they find mixed evidence to support the theory that the employer mandate under the Affordable Care Act (ACA) has contributed to the elevated level of involuntary part-time work.”

“The plummet of the labor force participation rate in NC, other states and the US is big news and should be more widely
reported.

The percentage of the population working is also important and in some ways more significant.

Since the big news today was the lowest so called initial claims number in 15 years let’s go back to January 2000 and
compare the employment to population percent from then to now.

US
Jan 2000 64.6

Dec 2014 59.2

That’s a plummet of 5.4 percent!

NC
Jan 2000 65.1

Dec 2014 56.5

That’s a plummet of 8.6 percent !!!”

Read more:

https://citizenwells.com/2016/06/09/goldman-sachs-jan-hatzius-obamacare-caused-few-hundred-thousand-workers-hours-cut-disincentives-for-full-time-employment-involuntary-part-time-employment-white-americans-decimated-under-obama-citi/

More here:

https://citizenwells.com/

 

 

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11 responses to “Obamacare to blame for losing full time jobs, Duke Fuqua School of Business CFO Magazine Global Business Outlook Survey December 11, 2013 predicted, Goldman Sachs chief economist Jan Hatzius stated jobs impact

  1. citizenwells

    “Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

  2. CW — the comment I just posted doesn’t show up; it may be because it contains a link to a video that I’d like you to review if you have a moment. Would you check your gmail? Thanks — AFB

  3. citizenwells

    CW —

    The language in the video link below is foul, but I wanted to pass it along to you for review because the ideas contained therein are priceless. The Hispanic billionaire is our side’s version of Rahm Emanuel. Will you review it and see whether it should be posted?

    http://www.yesimright.com/this-hispanic-billionaire-unleashed-on-trump-haters-says-who-else-would-you-have-in-a-fking-foxhole/?fb_ref=EjOAXV2CkG-Twitter

    Hope all is going well. Many thanks —

    AFB

  4. BREAKING……….
    TERROR ALERT for LOS ANGELES

    Sources in California say that radical MUSLIMS are planning to go on a rampage in the City of Los Angeles, killing anyone who is a US citizen.

    Police fear the death toll could be as high as 9, maybe even 10 !!

  5. bob strauss | June 11, 2016 at 4:18 pm

    From a few threads ago…

    Bob, are you aware that Fauxcahontas was paid $350K (yes, that’s three hundred and fifty thousand clams) to teach ONE course at Haavaad? Keep in mind that she was also an UNLICENSED attorney practicing law in the Commonwealth of Massatusetts (as Ovomit pronounces it).

    With a salary like that, you’d think that she could afford to get a decent ‘do, rather than having her hubby (poor dude!) put a soup bowl over her head and cut.

    She and Cankles are Dems; Sarah Palin and Ann Coulter are Repubs. See a difference in hair here? 🙂

  6. Donald Trump came to Pittsburgh today. My husband and son went to the rally and loved it. It was held in a hangar at the airport and they got to see the plane land. They said it was so exciting to see the plane taxi right in front of them; the door opens, then out steps The Donald! Musics playing and everyone cheering! It was Great! I didn’t go because of the heat today and they said it was really hot inside the hangar. I did go in April when he came to the city. There were about 7000 supporters that evening. A bunch of protesters outside too and police. We had to walk through them and all around them to get to the parking garage. Lots of noise!!! They said it was so nice today because the protesters didn’t show up. Peaceful.

  7. bob strauss

    The DNC wall to guard Hillary’s Armani jacket collection

    June 11, 2016

    The City of Brotherly Love is taking Donald Trump’s advice and building a wall around the arena where Hillary will formally denounce the idea of Trump building a wall while accepting the Democrats’ nomination. More

    http://www.americanthinker.com/blog/2016/06/the_dnc_wall_to_guard_hillarys_armani_jacket_collection.html

  8. bob strauss

    Obama an unindicted co-conspirator in Clinton email felonies?

    June 11, 2016

    There is a huge conflict of interest in President Obama’s endorsement of Hillary Clinton for president. More

    http://www.americanthinker.com/blog/2016/06/obama_an_unindicted_coconspirator_in_clinton_email_felonies.html

  9. bob strauss

    New Clinton email released was ‘classified’

    June 11, 2016

    The email was clearly marked, giving no doubt of how it should have been handled. More

    http://www.americanthinker.com/blog/2016/06/new_clinton_email_released_was_classified.html

  10. bob strauss

    Allen West Republic

    Admiral Issues Dire Warning To America –

    “”Why Would An American President Embrace The Muslim Brotherhood?””

    [VIDEO]

    That question no doubt as been asked (in various forms), perhaps a thousand times,…
    usherald.com

    http://usherald.com/breaking-admiral-ace-lions-warns-america-why-would-an-american-president-embrace-the-muslim-brotherhood-video?utm_source=awr&utm_medium=admiralacelionsobama611&utm_campaign=fbext

  11. bob strauss

    Proof Positive that President Has Told Attorney General to Deep Six Any Indictment of Clinton Over Email Scandal and Shows Just How Corrupt Obama and his Obama Justice Department Are!

    Klayman rips Obama over endorsement of Hillary Clinton

    Larry Klayman

    Washington, D.C.—Today, Larry Klayman, former federal prosecutor and founder of Judicial Watch and Freedom Watch issued this stinging statement upon news that President Barack Obama has endorsed the presidential candidacy of Hillary Clinton.

    “Hillary Clinton, who has a sordid past of illegalities, crimes and cover-up, and is embroiled in an on-going criminal investigation over her illegal use of a private email server while Secretary of State, has now been endorsed by her fellow criminal, President Barack Obama, who has perpetrated numerous scandals during his presidential administration, ranging from Benghazi-gate, to IRS-gate, to Fast and Furious-gate to Illegal Immigration-gate, and a myriad of others.

    This endorsement is proof positive, as boasted to by Hillary Clinton herself just yesterday, that she will never be indicted by President Obama’s Attorney General Loretta Lynch, over the FBI’s on-going investigation of her illegal use of a private email server while Secretary of State under Obama. This private email server was used not just to circumvent national security laws, but so Clinton could sell access to the State Department to enrich herself, her husband Bill Clinton, and the Clinton Foundation. In effect the private server was used to solicit bribes from foreign interests in Iran, Saudi Arabia and other terrorist and terrorist supporting Middle Eastern countries.

    Our nation is being destroyed by corrupt politicians in both political parties and our justice system is corrupt to the core. By endorsing Clinton, President Obama has brazenly admitted that the fix is in, and that he and the Clintons continue to be above the law. They have little regard for the Director of the FBI, James Comey and his fine special agents, who in good faith have been conducting a bona fide criminal investigation which has yet to be completed. Not since the days of Richard Nixon has a president so defied the FBI and those honest working level servants in my alma mater, the U.S. Department of Justice, of which Attorney General Loretta Lynch, like her predecessor, is not one.”

    http://canadafreepress.com/article/klayman-rips-obama-over-endorsement-of-hillary-clinton

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