In the past 12 months, the US has created 2.6 million jobs.
One-third of them went to persons born abroad.
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.)
It is simple supply and demand really.
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.
Meanwhile
On Sept 21 Pres Biden announced he is sending 800 additional (National Guard) troops to the southern border.
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The result?
They are cutting the wire as fast as they can.
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In multiple places
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Again and again as often as they can, anywhere they can.
336,000 jobs when it was only expected 170,000? nice…how many month in a row does that make now?
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)
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
And here we go again. Can’t wait for a gop president and deep dives into Unemployment repoets.
that doesnt seem to match
looks like last may the numbers show 281,000.
the last time there was negative seem to be in 2020…
You are not using seasonally-adjusted numbers I guess.
(Look I didn’t invent the adjustments. The Biden BLS reports it that way)
Apr-May showed a decline of 310,000 jobs.
It took 2 more months for employment to catch up again.
The employment situation overall is pretty good though.
Lots and lots of helicopter money floating around means lots and lots of jobs (for now.)
The question for now is will the money-holders bid up wages
as usual
or will they be inundated by a sudden flood of illegals and keep wages down.
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,
All of these are new things. These are not “business as usual” this is all new with Biden/Powell.
No it was always true. Wage growth stalled for years. That inflation was lower then is irrelevant.
That it is worse now is obvious.
*there is a constant hew and cry from employers that there simply are not enough bodies here to fill positions
This is new because we have too many old people aka retiring boomers
Jobs have been going to immigrants for decades. This is a ludicrous point. Was the last time you tried it
You mean jobs are going to illegal immigrants.
These deep dives are still popping up because of who is president. Anything before that seems to be irrelevant. Funny that.
Exceopt course it doesn’t. If it did the blue line and the red line would be the same for its entirety
I shouldn’t have said stalled. That’s on me. I meant didn’t match pace.
No you haven’t posted employment numbers for immigrants for past years. When i brought it up last time you said that the past is irrelevant.
It’s purposeful.
Should I do the math for ya?
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?
That’s first of all.
