Today’s jobs report was UGLY! How when the US unexpectedly added 353K “jobs” – the most since January 2023. Remember, Biden is President. And apparenty El Presidente of Latin America, Africa and Asia.
Let me start with the official Biden jobs report versus the ADP jobs report from yesterday. BLS showed an amazing surge while ADP was sigalling a slowdown. Obviously, BLS is measuring employment differently (this is an election year after all). Like seasonal adjustments (always econometric voodoo).
Here is a summary of the labor composition in the past year: all the jobs have been part-time jobs!
Said otherwise, not only has all job creation in the past 4 years has been exclusively for foreign-born workers, but there has been zero job-creation for native born workers since July 2018!
Source: St Louis Fed FRED Native Born and Foreign Born This is a huge issue – especially at a time of an illegal alien flood at the border – and is about to become a huge political scandal, because once the inevitable recession finally hits, there will be millions of furious unemployed Americans demanding a more accurate explanation for what happened – i.e., the illegal immigration floodgates that were opened by the Biden admin.
Which is also why the Biden admin will do everything in his power to insure there is no official recession before November… and is why after the election is over, all economic hell will finally break loose. Until then, however, expect the jobs numbers to get more and more ridiculous.
I wonder if “Union Joe” is telling US labor union about no growth for native workers.
https://confoundedinterest.net/2024...tion-for-native-born-workers-since-july-2018/
https://fred.stlouisfed.org/tags/series?t=native+born
The number of native born working age people is effectively flat.
Let me start with the official Biden jobs report versus the ADP jobs report from yesterday. BLS showed an amazing surge while ADP was sigalling a slowdown. Obviously, BLS is measuring employment differently (this is an election year after all). Like seasonal adjustments (always econometric voodoo).
Here is a summary of the labor composition in the past year: all the jobs have been part-time jobs!
Said otherwise, not only has all job creation in the past 4 years has been exclusively for foreign-born workers, but there has been zero job-creation for native born workers since July 2018!
Source: St Louis Fed FRED Native Born and Foreign Born This is a huge issue – especially at a time of an illegal alien flood at the border – and is about to become a huge political scandal, because once the inevitable recession finally hits, there will be millions of furious unemployed Americans demanding a more accurate explanation for what happened – i.e., the illegal immigration floodgates that were opened by the Biden admin.
Which is also why the Biden admin will do everything in his power to insure there is no official recession before November… and is why after the election is over, all economic hell will finally break loose. Until then, however, expect the jobs numbers to get more and more ridiculous.
I wonder if “Union Joe” is telling US labor union about no growth for native workers.
https://confoundedinterest.net/2024...tion-for-native-born-workers-since-july-2018/
https://fred.stlouisfed.org/tags/series?t=native+born
The number of native born working age people is effectively flat.
