What do the U-6 Underemployment numbers, ObamaCare and any given company’s 50th employee have in common?
Oddly enough, quite a bit.
Via NRO, the Kaiser Family Foundation, who we believe to be heavy contributors to [il]liberal causes and ObamaCare lobbying, has helpfully provided a nice, simple graphic of the ObamaCare penalty flowchart:
So, for those of us employed in businesses that:
- Have 50+ employees who work 30+ hours/week
- Have medical benefits that don’t cover at least 60% of “typical” medical expenses, or
- Pay more than 9.5% of family income towards those benefits
then the employer will get hit with a whopping-big penalty. If an employer has 150 employees, that formula is:
[150-30] x $2,000 = 120 x $2,000 = $240,000/year. This will go up as insurance costs go up.
Those employers with 50 employees will have to increase what they pay towards coverage, pay the ObamaCare penalty…
…or get below 50 employees, the threshold at which the penalties begin.
Which brings us to the national unemployment numbers. The Bureau of Labor Statistics [yes, the same folks that couldn't release November's unemployment data just before the election, as they are mandated to do] maintain different unemployment numbers:
- U-3 = Total unemployed, as a percent of the civilian labor force (official unemployment rate)
- U-6 = Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force
Here’s the U-3 unemployment rate since 2002:
Here’s the U-6 unemployment rate since 2002:
Remember you read it here first:
- U-6 unemployment rates are going to steadily increase in 2013 and beyond as employers try to get below the 50 employee threshold.
- Fewer people will qualify for medical benefits in 2013 than earlier years.
- More sub-50 employee businesses will start up, many of which will perform identical tasks and be owned by off-shore shell companies that the IRS can’t touch.
- As long as the Old School Media have the liberal Dems’ backs – especially Obama’s – no one will care, because it’s not part of their Narrative.