Goodbye Full-Time Jobs, Hello Part-Time Jobs, R.I.P. Middle Class
By Michael Snyder
July 15th, 2013
A fundamental shift is taking place in the U.S. economy. In fact, this transition is rapidly picking up momentum and is in danger of becoming an avalanche. The percentage of full-time jobs in our economy is steadily declining and the percentage of part-time jobs is steadily increasing. This is not a recent phenomenon, but now there are several factors which are accelerating this trend. One of them is Obamacare. The truth is that Obamacare actually gives business owners incentive to cut hours and turn full-time workers into part-time workers, and according to the Wall Street Journal and other prominent publications this is already happening all over the United States. Perhaps this is part of the reasons why the U.S. economy actually lost 240,000 full-time jobs last month.
In a recent article entitled “Restaurant Shift: Sorry, Just Part-Time”, the Wall Street Journal explained the choices that employers are faced with thanks to Obamacare…
The Affordable Care Act requires employers with 50 or more full-time equivalent workers to offer affordable insurance to employees working 30 or more hours a week or face fines. Some companies have said the requirement could increase their costs significantly, although others have played down the potential hit.
The cost for small firms to comply with the health law will depend largely on the number of additional full-time employees that sign up for employer-sponsored coverage. Average annual premiums for employer-sponsored health insurance in 2012 were $5,615 for single coverage and $15,745 for family coverage, according to the Kaiser Family Foundation. That is up from $3,083 and $8,003, respectively, in 2002.