Thanks to the upcoming Obamacare law retailers are cutting hours at a rate not seen in three decades.
Investor’s
Thank you Democrats.
Investor’s reported:
Retailers are cutting worker hours at a rate not seen in more than three decades — a sudden shift that can only be explained by the onset of ObamaCare’s employer mandates.
Nonsupervisory employees logged an average 30.0 hours per week in April, the shortest retail workweek since early 2010, Labor Department data out Friday show.
Even as retail payrolls have kept rising, with rank-and-file employment up 132,000, or 1% , over the past year, aggregate hours worked have fallen 0.9% over that span.
The average retail workweek was 2% shorter in April than a year earlier, the steepest sustained decline since 1980, an IBD analysis found.
The retail workweek recovered steadily as the job market strengthened from the start of 2010 until the spring of 2012. Since then, it has been all downhill, with the apparent pace of decline accelerating in recent months.
This reversal doesn’t appear related to the economy, which has been consistently mediocre. Instead, all evidence points to the coming launch of ObamaCare, which the retail industry has warned would cause just such a result.
After destroying small business Barack Obama is going on an American jobs tour this week. Barack is the worst jobs president since the Great Depression… And that was BEFORE the Obamacare implementation.
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