Politics

Goldman Sachs: Obamacare Is Leading To A Rise In Involuntary Part-Time Jobs

REUTERS/Yuri Gripas.

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Juliegrace Brufke Capitol Hill Reporter

Since Obamacare’s implementation, the number of Americans who can only find part-time work despite the desire for full-time employment has increased, research released by Goldman Sachs Wednesday found.

“We would estimate that a few hundred thousand workers might be working part-time involuntarily as a result of the Affordable Care Act,” economist Alec Phillips said in the report.

The findings indicate a number of workers have seen their hours scaled back due to the implications of President Barack Obama’s landmark health-care legislation, the Washington Examiner first reported.

Experts have speculated the uptick in part-time employment is largely due to the penalties companies with 50 or more full-time employees face if they don’t provide health coverage under the law.

Goldman Sachs’ analysis parallels a study released in May by Field Nation, a cloud-based company that connects employers with contractors, and Future Workplace, an executive development firm, which found that the law impacted 68 percent of companies’ hiring decisions. An astonishing 74 percent said they planned on increasing freelance contracts due to the hefty financial burden.

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