Tuesday, July 09, 2013

Job growth, Obama style

"Thanks to Obamacare, someone who used to work 35 hours a week for Olive Garden now works 22 hours for Olive Garden and 12 for Applebees. And Someone who worked 35 hours for Applebees now works 22 for Applebees and 12 for Olive Garden. The establishment survey sees two additional jobs created when precisely zero jobs were created.
Since this is happening en masse, I expect downward revisions in the future over Obamacare Double Counting.
The Obamcare effect is real. The distortions are complicated, numerous, and not widely understood."


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