The Obamacare Factor

The jobs report this morning said that employment increased by 195,000 – the bond market promptly panicked, fearing that Bernanke would immediately turn off the bond buying tap. Of the 195,000 jobs added last month, 112,000 were in the categories of “leisure and hospitality” and “retail” – low-paying and often part-time, as confirmed by the household survey which reported that part-time jobs soared by 360,000 to 28,059,000 – an all time record high –  while full-time jobs were down by 240,000 Restaurant and Bar employees  hit a new all time high of 10,339,800 workers, increasing by 51,700 in one month.  And looking back at the entire year, so far in 2013, just 130k full-time jobs have been added, offset by a whopping 557k part-time jobs. That would be Obamacare at work.

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