While Americans are reckoning the financial impact of President Obama’s healthcare reform initiative on the economy as a whole and on them personally, some of its obvious consequences for labor markets thus far seem to have escaped notice.

In a freely functioning marketplace, the compensation of employees consists of a mix of wages or salaries and “fringe” benefits. The compensation package varies from industry to industry and employer to employer, but in addition to an hourly wage or an annual salary it may include things such as on-the-job training, safety programs that reduce the risk of job-related injuries, paid vacations, time off for federal holidays, short workdays on Christmas and New Year’s Eve, flexible schedules – and health insurance. Full Piece