As headaches for the new Obamacare system get worse – the Obama administration has announced that the federal exchange will be going offline again tonight – the impact of the President’s signature legislation (the one he shut down the government for rather than delay) on the economy is still anything but positive.
Sporting goods giant Cabela’s has announced that they’ll be slashing hours for employees at 42 stores across the nation to get around the laws’s employer insurance mandate:
Cabela’s, whose 42 U.S. retail stores sell hunting, fishing and camping gear, cut part-time workers to a maximum of 28 hours per week. A notice to employees informed them that the change was due to health care reform: “the definition of part-time employment is changing to less than an average of 30 hours per week.”
Investor’s Business Daily is keeping a running list of companies who have announced cutbacks in hours due to Obamacare. But we don’t need anecdotes, illustrative as they may be, to tell us what sort of impact the controversial, unpopular law is having.
“Workers in low-wage industries clocked the shortest average workweek on record in July, new Labor Department data show,” IBD reported back in September. “The 29 million non-managerial workers in private-sector industries which pay up to about $14.50 per hour, on average, put in a 27.4-hour week, a level previously matched only at the depths of the recession in 2009.”
Obamacare has inflated the cost of employing workers, and businesses are reacting rationally to that added expense.
But hey, at least these workers who are losing hours and benefits from their employers will have access to more expensive, less flexible health insurance through the Obamacare exchanges.