“Hooray, hooray”! they said in print.
192,000 jobs were created last month according to the Department of Labor’s somewhat flawed mathematics that the media is eager to ignore.
Because hidden inside that job gain is another disheartening sign for the workforce: the number of workers who could only find part-time jobs rose by 225,000.
Leading the field in job creation, not surprisingly, was education and health services with 34,000 jobs—thank you Obamacare-- the retail trade with about 22,000 jobs—thank you Obamacare-- and temporary workers with 28,500 jobs —thank you Obamacare.
So the good news is that if you’re independently wealthy and just want a job to keep you busy, Obama’s economy is for you. Which, by the way, is an apt description of President Obama’s own job situation.
And that just proves that we’re all either too stubborn or too stupid to: 1) become African-American; 2) write a book about it and become fabulously rich; and 3) work part time as president, so that others can only work part time too —thank you Obamacare.
It’s estimated today by Rand that only 850,000 Americans who previously didn’t have health insurance as Obamacare turns one week old—thank you Obamacare. That means that about 6.25 million Americans had policies canceled, premiums raised, and the their doctors told to hit the bricks.
It also is largely responsible for the wide disfigurement in the labor force, with the country becoming a nation of sub-worker.
This from the administration whose slogan is “less work, more cooking of dinner.”
With almost 7.5 million Americans who can only find part time work, the administration has undone, in one month, most of the work that the economy did it trying to make up for the Obamacare Effect.
The Obamacare Effect penalizes companies for hiring full time workers. In part that’s because Obamacare redefined full time work to 29 hours per week. In part it’s because low wage occupations like waiting tables, entry level health technicians and retail are in industries that typically would have a hard time providing benefits for employees while offering products at prices consumers demand.
Not only has it raised the number of part time workers to unnatural levels, it also means that those workers get about ten percent fewer hours than previous part time workers got historically.
Today, at 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for October 31st, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 29th, 2014 | John Ransom