The Wall Street Journal. August 25, 2014.
Fresh off a Philadelphia Fed survey of manufacturers finding that the Affordable Care Act is acting as a drag on hiring and increasing part-time employment, a Dallas Fed survey finds the much same thing.
Like the Philly Fed survey, it was tacked on to an existing monthly survey of conditions. In this case, a net 23.5% of respondents say the number of workers employed is lower due to the effects of what’s commonly called Obamacare. Part-time work is up, the amount of work outsourced is up, wages and salary compensation per worker is down, other benefits are down, and prices charged are higher.
One question unique to the Dallas Fed survey was the estimate of the increase in health care costs per worker. The median response was 10% for 2013-14 and 11% for 2014-15.
It’s important to note that manufacturing employment has gone up this year — by an average of 15,000 per month in 2014, versus 7,000 in 2013. What the surveys are showing is that key executives think they would have ramped up employment even more were it not for the ACA.