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With Today’s Poor Job Numbers, Economist Mark Zandi Is Finding That ObamaCare Is Hampering Job Creation

- April 5, 2013

Economist Mark Zandi Attributed The Weak Job Growth To Obamacare, Saying “I Think Healthcare Reform Might Be Having An Impact.” MARK ZANDI: “Look, I don’t think the sequester is in here at all. I think it’s way too premature for the sequester having an impact. But, the retail trade number would be consistent not only with the payroll tax, but, again, I think healthcare reform might be having an impact. Remember the ADP number? It said for those companies with employees, with 50 to 499, that’s the group that would be affected by the healthcare reform, we have seen a rather sharp slowing in job creation. 43K in January, 20K in February, and minus 5 in March.” (CNBC’s “Squawk Box,” 4/5/13)

Last Month, The Federal Reserve Found That Employers Blame ObamaCare For Layoffs And Lack Of Hiring

The Hill  Headline: “Fed: Obama’s Health Law Leading To Layoffs” (Pete Kasperowicz, “Fed: Obama’s Health Law Leading To Layoffs,” The Hill’s Health Watch, 3/6/13)

The Federal Reserve: Employers Cited ObamaCare As Reasons For “Planned Layoffs And Reluctance To Hire More Staff.” “Employers in several Districts cited the unknown effects of the Affordable Care Act as reasons for planned layoffs and reluctance to hire more staff.” (“Current Economic Conditions,” Federal Reserve, 3/6/13) 

  • The Federal Reserve: Businesses Have “Delayed Hiring” Due To ObamaCare. “Firms continued to report changes in health care policy and fiscal uncertainty as reasons for delayed hiring.” (“Current Economic Conditions,” Federal Reserve, 3/6/13) 
  • The Federal Reserve: ObamaCare Has Caused Companies To Hire “The Absolute Minimum” Of Employees To Skirt The Law’s Burdensome Regulations. “Some contacts noted concern that client companies are hiring the absolute minimum to get by due to uncertainty about the Affordable Care Act.” (“Current Economic Conditions,” Federal Reserve, 3/6/13) 

Recently, Former Obama Economic Adviser Jared Bernstein, When Asked If ObamaCare Was Restraining Job Creation, Responded That It Was Making Him “Nervous” And That It Was Something To Watch For. CNBC’S STEVE LEISMAN: “How many times have we heard of the ‘Beige Book?’ Specific comments from Federal Reserve districts, one where Lacker is the president and one where Evans is the president so there isn’t going to be any bias there. Specifically saying the Affordable Care Act is restraining hiring. Jared, I wonder how you will respond to that?” FORMER OBAMA ECONOMIC ADVISER JARED BERNSTEIN: “I’m a little nervous about that, Austan made that point and I think there is something to it. I think it’s something worth watching.” (CNBC’s “Squawk Box,” 3/8/13)

 


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