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Unemployment Down to 7.5%, Obamacare Cited

obamacare

THERE was a gain of 165,000 jobs in April. Buried in news reports is the perceived impact of Obamacare, the informal label of the Affordability Care Act.

From USA Today:

Employers added a better-than-expected 165,000 jobs in April,, easing concerns that payroll growth may be slipping into a sustained mid-year slump.

The unemployment rate fell to 7.5% from 7.6%, the Labor Department said Friday. That’s the lowest since December 2008.

Payroll gains for February and March were revised up by a total 114,000. February’s gains were revised to 332,000 from 268,000 and March’s to 138,000 from 88,000.

There was other news that hints at what Obamacare is unleashing in the minds of employers, which is being blown out of proportion by its critics, as well as in reports.

But there were also some possibly troubling signals. The average workweek fell to 34.4 hours from 34.6 hours. Employers typically increase existing workers’ hours before adding new staffers and a decline may mean less future hiring. Many small businesses with around 50 employees may be limiting the hours of workers to fall below the staffing threshold at which they need to provide health insurance under the new health reform law.

Senator John Barasso is just one of the Republicans making the case that Obamacare is hindering the economy, which is parroted all day long on wingnut radio.

On Friday the government will release its unemployment report for April. The jobs numbers last month were a huge disappointment. Americans can’t afford more bad news.

Washington needs to break the cycle of weak job growth month after month. To do that, we need to honestly deal with one of the main roadblocks to job creation: President Obama’s health care law.

At a press conference this week, the president proved once again that he doesn’t understand how his law threatens Americans’ jobs, their care and their paycheck. …

It’s hard to think of a government program that is as important to the country as Obamacare that has been marketed so poorly by the politicians and party who championed it.

2 Responses to Unemployment Down to 7.5%, Obamacare Cited

  1. LiberalJoe May 3, 2013 at 12:05 pm #

    Its not the number of jobs, yes that it is important, but what are the type and quality of the jobs. I am still of the opinion that this economy is going to be slow growth for several more years. What are the pay rates for the jobs that are being filled? You can’t have massive layoffs of state/unionized workers across the country , outsourcing of well payig manufacturing jobs and magically have them all find jobs of equal pay. My hunch tells me there are many minimum or low wage jobs plus “independent contractor” jobs that pay no benefits with spotty salaries are being filled. College graduates are again facing a very difficult job environment.

    The financial crisis wiped out home equity in the country which fueled the economy-no home equity to borrow against means -no new cars, no new home improvements, deferring large household purchases-and on and on. Until consumer demand at the individual level really kicks up the economic growth is going to crawl along.

    Defense, financial firms and health care firms are still doing well, but the economy is very top down driven (financial firms are laying off folks) Banks specifically borrow at the Fed for zero interest but charge 13-14% on credit cards(yeah- the credit card bill Congresswoman Maloney trumpets fails to mention no curtailing of interest rates which is the principal driver of credit card costs for cardholders-real good job ther Congresswoman). That type of interest rate spread is delivering huge profits to banks.The Dow is up means profits are up and the prospect for greater profits exist. But out in the real world there is still a lot of pain.

    Obamacare is a convenient excuse to cut costs across the board meaning laying off workers, reducing hours, etc. These actions can improve profitability but individuals are hammered. w The ACA is still one bigclusterf^&k. Single payer or medicare for all would have solved a ton of problems with Obamacare implementation and the halting of increases in medical costs and premiums.

    I am not mislead by these relatively anemic positive results. Until the conversation/policies turn sharply leftward towards strong stimulus spending without spending cuts, real cuts to defense waste this economy will stall again or continue to crawl.

    If we are waiting for strong leadership from DC especially the Pres we are going to be waiting for a long time.

    I’m being long winded in this response but I am not impressed by the economic numbers- I’m more saddened because the evidence continues to mount that the economic policies being followed are not really working and our leadership lacks the guts and will to change direction.

  2. Ga6thDem May 4, 2013 at 9:00 pm #

    Taylor, I have been following your website since 2008 and you have been following Obama longer than that. You astutely pointed out back then that he couldn’t explain anything during the primaries so I’m sure it comes to no surprise to you that he was not able to market a policy.

    Anyway, he left a gaping hole when it came to defining policy and the GOP took that opening and ran with it. The GOP does not care whether anything they say is true or not. Sigh, we all saw this coming from a mile away.

.... a writer is someone who takes the universal whore of language
and turns her into a virgin again.  ~ erica jong