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22.08.2014
Economy Adds 192,000 Jobs in March, Unemployment Rate Unchanged: The ACA appears to be allowing workers to opt for part-time jobs and older workers to retire early.
The other area where we may be seeing the effect of the ACA is the rising number of people opting for part-time employment.
The job growth in March was heavily concentrated in employment services (42,000), restaurants (30,400), retail (21,300), and health care (19,400).
With population growth implying labor force growth in the neighborhood of 90,000, the economy is cutting into the backlog of unemployed workers at the rate of 90,000 a month. The views expressed on this site are my own and do not necessarily represent the views of the Department of Economics or the University of Oregon. The growth in retail is somewhat of a bounce-back after two months of declining employment.


With the economy still down close to 7 million jobs from trend levels, this would imply that we would reach full employment some time in 2020. It had risen by an average of 1,150,000 annually over the prior four years, accounting for almost all of employment growth over this period. The decline was due to a drop in non-durable employment as the durable sector added 8,000 jobs. It is possible that the ACA is allowing many of these workers to retire early now that they can get health care insurance outside of employment.
Workers in the 25-34 age group seem to be filling the gap, with an increase in employment of over 680,000 (2.2 percent) over the last seven months. Employment in the government sector was unchanged as a loss of 9,000 federal jobs and 2,000 state government jobs was offset by an increase in employment of 11,000 at the local level.


The terms 'further studies' and 'other program' refer to any other postsecondary certificate, diploma or university degree earned since the completion of the highest reported university degree. Construction added 19,000 jobs, raising employment in the sector to 48,000 above the year-ago level.




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