BlackFlag10
College Conservative
- Jun 1, 2012
- 121
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ADP reports state that only 158,000 jobs were added to the U.S. private sector last month. The general forecast for the month of March was just under 200K added jobs. The March ADP tally was the smallest since October.
The primary cause of the slowdown seems to be hiring in construction firms. Construction employment gains have seemed to pause after the rebuilding following Hurricane Sandy has started to tail off.
Another reason for the jobs slowdown according to chief economist Mark Zandi of Moody's? Obamacare
Zandi says he expects employment to affected in the near term as smaller employers attempt to keep their payrolls below 50 employees in order to avoid penalties levied by ObamaCare. The specific aspect of the healthcare reform bill that affects these businesses is the tax imposed on a business employing over 50 employees if it does not provide healthcare coverage for them.
See the full article at Cameron Harris: ObamaCare Causes Drop In Job Growth