"Overall unemployment stayed steady in June at 7.6%. The economy reportedly created 195,000 jobs in the month. But. The quality of the jobs created is not good.
In June, the household survey reported that part-time jobs soared by 360,000 to 28,059,000 – an all time record high. Full time jobs? Down 240,000. And looking back at the entire year, so far in 2013, just 130K Full-Time Jobs have been added, offset by a whopping 557K Part-Time jobs. And there is your jobs “quality” leading to today’s market euphoria (if only for now).
This is the ObamaCare effect. Obama’s health care law incentivizes employers to drop workers to below...
But Bob, you are TOTALLY missing the point man. Folks don't care if they have a decent paying job or food on the table.....they just want to be assured of affordable health care. Who needs a job that helps you make ends meet when you can suck on the government teat? Get with the program dude!!!!!
Of course then you have this little problem with the "young invincible":
MIAMI (AP) — Dan Lopez rarely gets sick and hasn't been to a doctor in 10 years, so buying health insurance feels like a waste of money.
Even after the federal health overhaul takes full effect next year, the 24-year-old said he will probably decide to pay the $100 penalty for those who skirt the law's requirement that all Americans purchase coverage.
(This guy has two part-time McJobs)
"I don't feel I should pay for something I don't use," said the Milwaukee resident, who makes about $48,000 a year working two part-time jobs.
(Now why wouldn't a guy who makes $48,000 a year not want to pay $3000 (about 6.4% of his income) into the "Affordable Care Act"?)
Because he makes too much to qualify for government subsidies, Lopez would pay a premium of about $3,000 a year if he chose to buy health insurance.
"I shouldn't be penalized for having good health," he said.
Premium hikes could be a disincentive for young people weighing their options. Premiums for people aged 21 to 29 with single coverage who are not eligible for government subsidies would increase by 42 percent under the law, according to an analysis by actuaries at the consulting firm Oliver Wyman. By comparison, an adult in his or her early 60s who would see about a 1 percent average increase in premiums under new federal health rules.
Hmmm.....I can't imagine why the President would want to kick this can down the road until after the 2014 election. Can you?
Just as many on the right are in denial about climate change (regardless of its cause) many on the left are in denial about the impact the "Affordable Care Act" is having on an already weak job market here in the US.
And unemployment remains at over 7.5% for Obama's entire term in office. And what did he do? Cancel his jobs council and spent millions visiting Africa. Starting to get nostalgic for 2005?
Thomas Sowell: There are no solutions, just trade-offs.
