In his new Gold Videocast, Peter Schiff explained how Obamacare has created a “job-sharing” economy that is skewing the government’s employment data. As he put it:
Obamacare forces employers to provide insurance for full-time employees. As a result, employers are hiring more part-time workers than they normally would and that is substantially influencing these numbers… [Suppose an employer] cuts [two full-time workers’] hours back to 10 hours a week and then he actually hires two more guys. So now he has four guys working 40 hours instead of two guys working 80 hours. He’s cut the hours in half but doubled his workforce. According to the government, he’s just created two jobs even though he has four people sharing one job.”
People are already wondering how Peter can know that job sharing actually takes place. Where’s the evidence that full-time workers are being laid off in favor of part-time labor? All you have to do is look at the numbers released by the Bureau of Labor Statistics.
For instance, look at June of 2014. The BLS reported that 799,00 part-time jobs were created, while 523,000 full-time jobs were lost. To the casual observer, it looks like nearly 276,000 jobs were created.
Peter isn’t the only one observing this trend. The CEO of Gallup recently exposed the crooked math behind the BLS job reports. Beyond trading part-time for full-time jobs, there are a lot of other problems with the numbers.
John Manfreda explains in detail in his recent commentary:
