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January 27, 2014 at 08:30 AM
(Bloomberg) — The vast majority of U.S. corporate economists say the implementation of the Patient Protection and Affordable Care Act (PPACA) will have no effect on their employers or their employers’ hiring plans, according to results of a poll issued today.
About 75 percent of those surveyed said PPACA hasn’t influenced the companies’ planning or expectations for 2014, according to data from the National Association for Business Economics. Twenty-one percent of 64 respondents said that the law would have a negative impact on business conditions, and 5 percent said the law will have positive effect.
Most, 85 percent, also said the law wouldn’t prompt a change in the employers’ hiring practices, according to the survey. Some 6 percent said it would lead to more employment of part-time help and fewer full-time staff, while 8 percent said it would lead to less hiring of all types of workers.
Participants were also sanguine about changes in Federal Reserve monetary policy, with 70 percent saying tapering of record stimulus would have no effect on profitability, and the remaining split almost evenly between positive and negative implications for earnings. An overwhelming majority of participants, 94 percent, said uncertainty regarding what direction policy makers would take prompted no change in capital investment plans.
