This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

FACT CHECK: Slippery Claims On Health Law, Budget

SEBELIUS: "Actually that just isn't true. What we see is an increase in full-time jobs. There's a decrease in the number of Americans working part-time hours." â¿¿ On CNN, Thursday.

THE FACTS: Cantor's statement reflects fears of what might happen over time. Sebelius' statement rests on statistics, though selective ones.

The Bureau of Labor Statistics says the number of people working part-time involuntarily â¿¿ because of slack work or business conditions or because they can't find full-time jobs â¿¿ was 7.9 million in August. That's down by a hair from a year earlier, when it was 8 million. In that time, the average weekly hours worked also went up marginally. And unemployment overall dropped to 7.3 percent from 8.1 percent. These figures support Sebelius.

Yet involuntary part-time work is up a whopping 75.6 percent since August 2007, when the economy was about to go into deep recession. That supports Cantor's point about change in the job market. Some recent surveys have found a growing number of businesses that are cutting hours for part-time workers to keep them below the 30-hour threshold that places health-insurance obligations on them.

Much of the surge in part-time work, though, came before enactment of the health care law in 2010 or during its earliest stages. The effects of its obligations on employers have yet to take root. For now, the case that "Obamacare" will turn the workforce into a part-time one is anecdotal at best. Also plausible â¿¿ and speculative â¿¿ is the possibility that the law will work as its advocates intend and spur jobs by lightening the health insurance burden.

___

Associated Press writers Ricardo Alonso-Zaldivar and Tom Raum contributed to this report.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
6 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs