July 6, 2012

INVESTOR’S BUSINESS DAILY: 10 reasons why jobs market even worse than weak June employment report.

Related: James Pethokoukis: June Jobs Swoon — America’s Labor Market Depression Continues.

I wonder how much of this is attributable to people “going Galt” in response to Obama Administration overreach?

UPDATE: A reader writes:

Please don’t use my name if you use this….

I saw your thought on employers going Galt due to Obama administration overreach.

I own a small company that I downsized from nine employees to one over the course of this recession. Mostly out of necessity.

I was speaking this morning with another business owner who did the same.

His quote on this was, “I’ll be damned if I’m going to create another job in this environment.”

I have to agree. It has become more and more onerous to add full-time employees. Even if you have the work, you have to measure improvement in revenue against the additional hassle and costs. Also, you have to look at how much of that additional money you’re going to have to fork over to the government.

A lot of those things have been there for a long time, but additionally we’re being told we’re evil and greedy.

The owner is always the last one paid in a small business. Sometimes he or she doesn’t get paid, if it would hurt the business.

With all those factors, it shouldn’t be a surprise to anyone when business owners don’t create more jobs. They should be surprised they actually do create a single job.

Indeed.

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