Federal Reserve: Fears over ObamaCare are causing employers to lay off workers


The Federal Reserve on Wednesday released an edition of its so-called “beige book,” that said the 2010 healthcare law is being cited as a reason for layoffs and a slowdown in hiring.

“Employers in several Districts cited the unknown effects of the Affordable Care Act as reasons for planned layoffs and reluctance to hire more staff,” said the March 6 beige book, which examines economic conditions across various Federal Reserve districts across the country.

That line was found in a section of the Fed’s report on employment, wages and prices. That same section also said the Atlanta district noted that healthcare regulations are so burdensome there is a shortage of compliance specialists.

“Atlanta noted a lack of compliance specialists due to heavier regulations in the healthcare industry,” it said.

In a later section focusing on the Philadelphia district, the beige book said that “Health insurance costs are mixed, ranging from very high increases to no change.” The Cleveland district reported that “rising health insurance premiums remain a challenge” in the manufacturing industry, and that many in the energy sector cited “rising health insurance premiums as a concern.”

They told me if I voted for Mitt Romney, America would see more layoffs, an unemployment rate that would not improve, and a complete and total disregard for the concerns and plight of the working man by the administration in charge. And they were right.

Via Memeorandum

3 thoughts on “Federal Reserve: Fears over ObamaCare are causing employers to lay off workers

  1. It is commonly held that a clock that does not run at all is right at least twice a day. Obhammud ordered the liquidation of bin Laden. So far, no second occurence of his being right has surfaced.

  2. It is, IMHO, the implicit design of the administration that the middle class in this country be destroyed because no dictator has ever succeeded where there is even a middlingly effective middle class. And every policy he has put forth has the intended effect of destroying everything many of us were raised believing in, including proposed laws and his incredibly burdensome regulations-by-fiat.

  3. You know, its like the mystified people who write these stories have never worked anyplace where their employer has to make a profit to stay in business. What a radical idea. After all, government doesn’t work that way.

    “Duh”, indeed.

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