The ACA/Obamacare also added new expected costs to hiring... further aggravated by uncertainties over how completely it will be implemented in the face of political opposition.
Every new bit of cost/uncertainty around hiring makes it relatively more attractive for those who could be hiring to instead (1) automate or otherwise replace workers with capital investments; (2) outsource or offshore; (3) take the afternoon off instead of struggling with hiring-led growth.
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The ACA/Obamacare also added new expected costs to hiring... further aggravated by uncertainties over how completely it will be implemented in the face of political opposition.
Every new bit of cost/uncertainty around hiring makes it relatively more attractive for those who could be hiring to instead (1) automate or otherwise replace workers with capital investments; (2) outsource or offshore; (3) take the afternoon off instead of struggling with hiring-led growth.