http://money.cnn.com/2013/05/01/news/economy/adp-jobs-report/index.html?iid=SF_E_LN
Private sector companies only added 119,000 jobs in April, the lowest number since September, and this only includes the private sector. Once federal job cuts are added into the equation, the total number of jobs added is expected to drop significantly. The expected number of new hires in April was supposed to be 150,000 to keep up to speed, however we fell 31,000 jobs short as a nation. Manufacturers have cut jobs, however the construction sector has added the most jobs. Small businesses with 49 employees and lower are higher the least sue to health care reform. Starting in 2014, businesses with 50+ employees are required to provide health insurance for all employees or face tremendous fines. Health care reform, along with taxes and other government regulations, are expected to be the big three reasons for the slowing down of jobs being added. In addition, the government has cut about 80,000 jobs over the passed 6 months. Right now, the signs are pretty dismal for job additions.
This article seems somewhat irrelevant but any who it is unfortunate to see these numbers as a student seeking a job. What do you mean by "Small businesses with 49 employees and lower are higher the least sue to health care reform" it doesn't make much sense. I'm confused by a lot of the he content of this article. But on another note these numbers do look dismal. The summer usually induces a spike in employment so hopefully we can see an increase in these numbers.
ReplyDeleteIt seems these companies are having trouble hiring the right amount of people. If we are requiring businesses too have health care for everybody if they have over 50+ then what is the incentive that they would want to hire more people. They will only hire the 49 people so that they do not have to pay for everyone's health insurance. We need to give all these small companies incentives because they are one of the solutions into getting jobs back on track.
ReplyDeleteI think this article presents a difficult dilemma. On one hand, many people are worried about reducing the budget deficit. One the other hand, we need to increase consumption and help get our economy back on track. However, I do not think that these two issues can be addressed effectively at one time. If we are trying to increase taxes and cut government spending, it will be very difficult to increase consumption. However, in order to help speed the economy up, the government would likely have to cut taxes and increase spending. I think that trying to solve both problems at once will just prolong both of them.
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