Millions Of New Illegal Immigrants Mask True State Of US Economy

[Ptarmigan]

Millions Of New Illegal Immigrants Mask True State Of US Economy
https://www.zerohedge.com/political/millions-new-illegal-immigrants-mask-true-state-us-economy
Via
https://www.theepochtimes.com/article/the-hidden-reality-behind-high-job-numbers-us-born-workers-see-decline-5621989

Economists are expressing concern over the increasing number of illegal immigrants in the United States, who they believe are obscuring the actual condition of the jobs market and the U.S. economy.

For the last few years, the headline employment figure has been impressive. The country has recovered the lost jobs from the government-imposed shutdowns during the pandemic and added a few million more, despite a climate of high inflation and rising interest rates.

In 2023, the economy added approximately 3 million new positions. To kick off 2024, more than 800,000 new jobs have been added.

The labor market data is critical as it helps determine the Federal Reserve’s interest rate policy.

Federal Reserve chairman Jerome Powell said on March 20 that the central bank is monitoring the labor market “very carefully” and isn’t observing any “cracks.”

The economy is growing or is it? Not so fast.

However, a closer look at the household survey of the employment report reveals a more gloomy picture. Employment for native-born Americans has been in decline over the past four years. This means that all of the job gains have gone to foreign-born workers, including both legal and illegal immigrants.

According to the Bureau of Labor Statistics (BLS), the number of immigrants—legal and illegal—working in the United States grew by 3.4 million between February 2020, shortly before the onset of COVID-19, and March 2024. The number of U.S.-born workers, however, declined by 78,000 during the same period.

In addition, during the Biden administration, there have been approximately twice as many illegal immigrants as legal immigrants entering the country, according to a study by the Brookings Institution.

“That’s a big problem,” says economist Stephen Moore.

[Old n Grumpy]

There was a story on the news a few weeks ago that Tyson shut down a plant in a small town in Indiana and laid off 12 to 1500 workers. Then they went to New York City and hired illegals and bussed them to Tennessee to work in a factory there.