CNBC financial analyst and host Jim Cramer attributed at least partial blame for the lackluster August jobs report to the Affordable Care Act, or Obamacare.
Cramer posed that companies that have between 30 to 50 employees are waiting to see if they will expand to 50 employees and beyond, due to the increased financial obligations of the (illegally) suspended employer mandate. The ACA requires businesses with more than 50 employees to provide health insurance to all employees, and many businesses are straining to grow their businesses with their current workforce, rather than hire more workers.
Democrats, such as House Minority Leader Nancy Pelosi, claim that Obamacare will create hundreds of thousands to millions of new jobs. Pelosi herself said that Obamacare will create 4 million new jobs. Instead, the regulations, red tape, and the high costs of mandated healthcare could be harming job and economic growth.
Editor's note: This article was edited for content after publication.