Meanwhile the Southern border is flooded with illegal immigrants.
(Getting free fist bumps and cell phones from the “Border Patrol” agents who cut the wire and welcome them)
tiktok video below
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and less and less of the GDP goes to pay labor (more and more goes to capital.)
As labor supply rises, the cost of labor falls.
Meanwhile since labor is relatively cheap, owning capital and being able to employ that labor becomes more and more profitable.
This wouldn’t bother me so much if it were happening in a free market.
(From time to time technology improvements will make owning a factory or tech company more productive) but it concerns me greatly when the government policy is deliberately shrinking wages.
Four
The last (seasonally-adjusted) jobs decline was in May.
There were 4 last year.
You are right though that the “expected” numbers are pretty far off.
Apparently they (the time-tested models) are not based on a flood of immigrants keeping wages down.
Since the end of the pandemic-related recession (Apr 2020) wages have not kept pace with inflation. American workers have lost about 4%. (More at the bottom)
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People SAY that happens all the time, but it’s not true.
Since 2000 American workers have gained a lot vs inflation. (About 20%)
Technology tends to make things cheaper.
It is only in the current period that workers are losing out,
and the models are not based on that so yeah “expectations” are way off and will likely be corrected once they take into account
a tidal wage of illegal immigrants
wages losing vs inflation.
Those are new things in the Bidenomics era and not yet in the models.
The funny thing is, for decades the left has been (falsely) claiming “Wages aren’t keep pace with inflation.” “The rich are getting richer but the workers can’t keep up.”
They have been saying that for decades and it has never been true . . . until now.
Now that it finally is true they are running from it and pretending the economy is great.
(Shakes head.)
they were revised downward in April and may but it was still positive job creation overall. when you look at this report August and July were revised upward…
everyone wins! i know my company has hired over 2000 this year in my division alone. each one a 6 figure starting salary.
Yes net jobs were created.
(The thread title and my posts both say that.)
One -third of all newly-created jobs went to persons born abroad.
Thus the newly-created jobs did not have the normal effect
Instead of wages keeping pace with inflation (and advancing because of technology)
wages are losing. Wage-earners are losing.
This is unprecedented.
We live in the middle of a technology boom making everything cheaper.
It should be a golden age and yet,
there is a flood of illegal immigrants
jobs are going to immigrants
since April 2020, for the first time in a very very long time, wages are not keeping up with inflation.
All of these are new things. These are not “business as usual” this is all new with Biden/Powell.
Donald Trump stopped the bleeding
Donald Trump wanted to build a wall.
His success in this area would have been even greater.
somebody stopped him from building a wall.
Nonetheless
here are the numbers you claim I purposefully avoid posting.
Why call me a liar?
why not discuss the facts?
Are you trying to change the subject?