Obamacare is Blamed for High Unemployment Rate in U.S.

| by
article imagearticle image

The US unemployment rate is continually high, and many are now blaming Obamacare as employers cut hours to avoid having to offer health insurance.

The current unemployment rate is 7.6 percent and the labor market is said to be weak.

In 2009, President Obama and Congress passed a $800 billion stimulus they hoped would bring the unemployment rate to 5.1 percent by the end of 2013. But now, the percentage of employed Americans is 58.6 percent. Before the recession, that number was 63.4 percent. 

Many jobs that have been added to the market recently are summer ones taken by teenagers and young adults.

Underemployment rates are even worse, as those who work part-time and want full-time jobs continue to rise in numbers. If they are included in the unemployment rate, the number jumps to 13.8 percent.

A large number of people are putting the blame on Obamacare for their inability to obtain full-time jobs. 

It's not just local businesses that are cutting hours to avoid the health insurance requirement, local governments are doing it as well. 

It is affecting people of all socioeconomic and racial backgrounds, but seems to be hitting African Americans the hardest. The unemployment rate for African Americans increased from 13.2 percent to 13.5 percent in May.

"The president hasn't really shown any seriousness or sincerity with changing the situation," Derryck Green of Project 21, a black leadership network, said. "I think people have gotten used to low expectations as it pertains to the economy. [Businesses are not hiring and expanding] because they cannot afford the financial penalty that's going to come with providing all of their employees with company paid-for healthcare."

Sources: Inquisitr, Powerline Blog