As you read each month\’s glowing report about “job growth”….and then wonder why there is virtually no recovery from a recession that started almost 7 YEARS ago….
…read this excerpt from Tom Gantert\’s piece at michigancapitalconfidential.com, and see if you can figure out why:
The Bureau of Labor Statistics (BLS) considers part-time work to be 35 hours or less.
From 1994 to 2002, the number of part-time jobs (35 hours or less) in the U.S. stayed relatively flat at about 23 million-plus. From 2003 to 2007, the number of part-time jobs hovered in the 24 million-plus range. The number of part-time jobs went up from roughly 25 million at the start of 2008 until it reached 27.5 million by the end of 2010, a number that has held steady since then.
However, the full implementation of the Obamacare employer mandate has been delayed. The employer mandate only takes effect this year, and even then, only for businesses with 100 or more employees. Those employers need to offer coverage to 70 percent of their full-time employees in 2015 and 95 percent of their full-time employees in 2016. The mandate goes into effect for employers with 50 to 99 employees in 2016.
Appalling? Yes. But don\’t stop there. Let\’s also add in the fact that the job participation rate – i.e. people who aren\’t finding work anywhere, whether full or part-time – is at a 37 year low.
Does this give you any realistic expectation that the job situation – real jobs, not part-time work for full-time people – is going to get any better? That our economy is going to stop stagnating since Barack Obama took office, and inflicted this monstrosity on us (along with the “stimulus package” that stimulated little other than rich people\’s wallets – especially rich Democrats who played ball with Mr. Obama and his people?).
Less than 21 months until this nightmare of an administration is over. I count the seconds.
