Three new Federal Reserve surveys reveal Obamacare continues to force employers to slash jobs and hours in response to the unpopular healthcare overhaul, reports The Wall Street Journal.
Last Thursday, the Federal Reserve Bank of Philadelphia reported findings from its Obamacare business survey, revealing that 18.2% of employers are cutting jobs and employees as a result of Obamacare. Moreover, 18% said they have also had to shift more of their workers to part time.
The New York Federal Reserve study found similar findings, with 21% of New York manufacturers and 16.9% of service businesses reporting reductions in the number of workers they employ due to Obamacare.
Lastly, the Atlanta Federal Reserve’s study found that 34% of businesses that do not cover health insurance plan to hire fewer full-time workers due to Obamacare’s tax penalty for companies with more than 50 workers.
According to the Investor’s Business Daily Obamacare scorecard, 429 employers have already slashed tens of thousands of workers’ hours and jobs as a result of Obamacare.