Wall Street Journal (02/04/14) Louise Radnofsky; Damian Paletta
The U.S. Congressional Budget Office expects the Affordable Care Act to reduce the number of hours worked by Americans in 2021 by the equivalent of 2.3 million permanent jobs, which surpasses an earlier forecast of a loss equivalent to 800,000 workers. CBO does not expect an increase in the unemployment rate tied to the law because the changes would be the result of workers’ choices, though growth could slow due to the impact on the labor force.
Additionally, the troubled launch of the health insurance exchange will reduce the number of people obtaining coverage in 2014. CBO estimates that six million people will secure private coverage through the exchanges, down from a previous estimate of seven million, and eight million will obtain coverage through Medicaid, down from nine million.