Survey: ObamaCare Mandates Causing Shorter Workdays, Layoffs
R aise the cost of something, and inevitably demand for that thing goes down. It's a venerable principle in economics.
So five years ago when ObamaCare was being enacted, we and many others warned that its coverage mandates for employers would result in hours being cut back and workers being laid off. We were criticized at the time as Chicken Littles. Now comes a survey of 743 personnel executives by the Society of Human Resource Management, as reported by Robert King of the Washington Examiner, that shows businesses are doing just that. Nearly 14% of firms have cut part-time hours for workers, King wrote, and another 6% plan to do so.
Still worse, 5% of companies have already either cut or plan to cut the total number of workers they have, thanks to ObamaCare.
ObamaCare's employer mandate requires businesses with 100 or more employees to provide health insurance to 70% of their workers who put in 30 or more hours a week. That goes up to 95% next year.
Meanwhile, small businesses with 50 to 99 workers will start feeling the pinch in 2016, when the mandate hits them, too.
So it's only logical: Businesses are cutting hours to avoid having to pay for the mandate a predictable response in the real world, but apparently not in the world of the economists, politicians and planners who concocted ObamaCare's destructive rules.
Read More At Investor's Business Daily: http://news.investors.com/ibd-editorials-perspective/032515-745105-obamacare-destroys-jobs-and-reduces-hours-survey-shows.htm#ixzz3VTaHcaPN
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