Tag Archive for: bureau of labor statistics

New Labor Stats Show Foreign Workers Gaining Jobs While Native-Born Workers See Decline

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The August 2023 Employment Situation survey from the Bureau of Labor Statistics (BLS) drew far more media attention than normal for a monthly economic publication, and for good reason. The survey shows that over 1.2 million native-born Americans lost jobs from July to August 2023. However, over the same period, nearly 700,000 new jobs went to foreign-born workers and boosted foreign-born employment to a record high. This dramatic difference is the product of an immigration system that is not delivering for hardworking American citizens, and a closer look at the long-term trend is even more ominous.

Individual months can show huge swings in employment because of factors like seasonal jobs.  But this particular divide from July to August may foreshadow more bad news. The COVID-19 pandemic had a significant effect on the job market and caused employment numbers to crash for both native-born American workers and the foreign-born. The highest ever pre-COVID monthly total of American-born workers was recorded in October 2019. In that month, 131.7 million native-born Americans were employed. Economic recovery for American-born workers has been slow, and since the start of the pandemic that total has only been passed twice: in June and July 2023. As it stands right now, native-born Americans have lost a net 700,000 jobs over five years and full recovery, let alone growth, is yet to come.

The opposite is true for foreign-born workers. Their pre-COVID peak came in February 2019, when 27.8 million foreign-born people (legal immigrants and illegal aliens) held jobs. Since then, foreign-born employment has blown past that record and now stands at an unprecedented 30.4 million. In short, the foreign-born have gained 2.6 million jobs since their pre-COVID high, while the native-born have lost 700,000. This means that all post-pandemic job growth, coinciding with the millions of illegal aliens allowed into the country by the Biden administration, has gone to foreign-born workers. This 3.3 million job gap is an unacceptable consequence of lax border enforcement and an administration (and cheap-labor business interests) intent on flooding the market with low-skill illegal aliens to “solve” a labor shortage that does not exist.

Our current immigration policies are not benefitting American-born workers. Millions of American citizens struggle to find jobs while native-born employment has not recovered from COVID-19. However, the Biden administration’s top priority seems to be letting in as much cheap labor as possible. The number of illegal aliens living in the U.S. has grown to record highs thanks to policies that actively encourage them to enter, and many of these illegal aliens exploit backlogs in the system to work legally for years and compete directly with Americans. Meanwhile, some representatives are even proposing legislation that would effectively let any foreign national who shows up at the border and claims asylum to the U.S. with nearly zero barriers.

AUTHOR

Michael Capuano

Michael Capuano joined FAIR in 2022. As a researcher and staff writer, he contributes to the work behind FAIR’s long-form research publications as well as topical content responding to immigration-related issues as they happen.

Before joining FAIR, Michael worked in the Enforcement and Removal Operations Law Division at Immigration and Customs Enforcement (ICE) during law school at George Washington University and then as an immigration attorney at a Spanish-speaking law firm. Having grown up in Southern California and with experience on both sides of the issue, he is acutely conscious of the importance of the immigration issue to everyday life and the necessity of FAIR’s vision for reform.

Michael’s background before law school was in Urban Studies/Planning at the University of California, San Diego, informing a deep concern for the environment and good urban design, two issues very relevant to the current immigration crisis.

EDITORS NOTE: This FAIR column is republished with permission. All rights reserved. © COPYRIGHT 2023 FEDERATION FOR AMERICAN IMMIGRATION REFORM, ALL RIGHTS RESERVED

Inflation Refuses To Go Away As Prices Stay High

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Inflation refused to significantly ease despite the Federal Reserve’s efforts to rein in high prices, according to the latest Bureau of Labor Statistics (BLS) inflation report released on Wednesday.

The Consumer Price Index (CPI), a broad measure of the prices of everyday goods such as energy and food, increased 4.9% on an annual basis in April compared to 5% in March, according to the BLS. Core CPI — which excludes energy and food — remained high, rising 5.5% year-over-year in April, compared to 5.6% in March.

The increase was driven primarily by a rise in shelter costs, which jumped 0.4% in April compared to 0.6% in March, according to the BLS. Inflation grew 0.4% on a monthly basis in April, compared to 0.1% in March, according to the BLS.

The index for used cars and trucks increased 4.4% and the index for motor vehicle insurance rose 1.4%, according to the BLS. The indices for recreation, household furnishings and operations and personal care also increased.

The energy index decreased 5.1% over the 12 months ending in April while the food index increased 7.7% for the last year.

Inflation reached 9.1% in June 2022, its highest point since 1982, according to the BLS.

“The direction of inflation is getting less bad, but pace of improvement is still frustratingly slow,” Bill Adams, chief economist for Comerica Bank told Morningstar.

“Inflation has stayed higher for longer than the conventional forecasting techniques would lead us to believe, and so the risk is that the persistence of inflation continues,” he said. “That’s another way of saying that once inflation has picked up, it’s hard to slow down again. And that’s where we are now.”

The CPI report follows an unexpectedly hot jobs report on Friday as the U.S. added 253,000 jobs in April, and the unemployment rate dropped slightly to 3.4%, according to BLS data.

“We remain committed to bringing inflation back down to our 2% goal and to keep our longer-term inflation expectations well-anchored,” Federal Reserve Chair Jerome Powell, who has raised interest rates ten consecutive times in an attempt to lower inflation, said Wednesday in a press conference following the Federal Open Market Committee (FOMC) meeting. “Reducing inflation is likely to require a period of below-trend growth and some softening of labor market conditions.”

AUTHOR

JASON COHEN

Contributor.

RELATED ARTICLE: Core Inflation Still Sky High, New Report Shows

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Biden Claimed He Created 1 Million Jobs. Actual Number, 10,500

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Come on, man. What’s a little rounding error between friends?

What’s a little rounding error between a corrupt hack and the country he’s running into the ground?

“In the second quarter of this year, we created more jobs than in any quarter under any of my predecessors in the nearly 40 years before the pandemic,” Mr. Biden said on July 8.

“The economy created more than 1.1 million jobs in the second quarter, or around 375k jobs per month,” the White House said in a statement on July 22.

A million or ten thousand. Come on, man. Who’s keeping track?

The Philadelphia Fed’s new assessment shows that employment numbers in 29 states and the District of Columbia were significantly lower than the Bureau of Labor Statistics reported for the March-through-June period.

The BLS, a division of the Department of Labor, estimated net job growth of 1,047,000 jobs in the second quarter. The Philadelphia Fed now says its data shows that 10,500 net jobs were created in that period.

Another reminder that anything from BLS or anything under the control of administration political appointees cannot be trusted. The Biden administration is actually worse than the Obama administration in this regard. Everything is corruptly politicized and appointees will flat-out tell the most outrageous lies.

Not that this comes as a surprise even to the media. How many times has this happened already?

Biden’s bogus boast of 1 million ‘construction jobs’ – Four Pinocchios – Washington Post

AP FACT CHECK: Biden’s fuzzy math on 1 million new auto jobs

Biden will still keep on lying anyway.

AUTHOR

DANIEL GREENFIELD

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U.S. Adds Fewest Jobs This Year As Labor Market Cools

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The U.S. labor market cooled once again in September, adding the fewest jobs this calendar year, according to a Friday morning report from the Bureau of Labor Statistics (BLS), fueling investor hopes that the Federal Reserve might reduce the intensity of its anti-inflation campaign.

The U.S. added 263,000 jobs in August, slightly higher than investor expectations, a meaningful drop from August’s addition of 315,000, and half the 528,000 added in July, according to the BLS. The unemployment rate edged down to 3.5% in September, from 3.7% in August, with 5.8 million Americans currently unemployed, beating investor expectations.

The decline in job growth is another sign that the red-hot labor market is beginning to cool after job openings plunged 10% to 10 million in September from 11.1 million in August, according to a Tuesday BLS report. This slowdown is likely to be welcomed by investors, who hope that loosening labor conditions might prompt the Federal Reserve to reduce the intensity of its anti-inflation campaign, according to CNBC.

Members of the Federal Open Market Committee, the Fed group that sets its policy on interest rates, have been consistent in their messaging that high interest rates and elevated levels of inflation are expected to last at least another several months. The battle against inflation is still “in the early days,” said President Raphael Bostic of the Federal Reserve Bank of Atlanta, according to CNBC.

Wages grew by 5% over the past 12 months in September without accounting for inflation, according to the BLS. In August, wages were up 5.2% over the previous 12 months, without accounting for inflation, but once inflation and a reduction in the average hours worked were considered, earnings actually decreased by 2.8% in August, according to the Bureau of Labor Statistics.

“Despite the stronger wage growth due to the tightness of the labor market, a majority of workers are finding their wages falling even further behind inflation,” Fed researchers wrote in a Tuesday report on wage growth published by the Federal Reserve Bank of Dallas on Tuesday.

A small minority of workers saw significant real wage growth, while the proportion of workers who saw wages decline fell slightly from pandemic-era highs to 53.4%, the highest rate since 2011, the Fed researchers reported. Amongst those that saw wages decline, the median decline was 8.6%, far greater than the typical range of a 5.7% to 6.8% decline seen in the past 25 years.

Earnings data for September is due on Sept. 13, alongside inflation data in the Consumer Price Index (CPI), a measure of the inflation faced by typical urban households in the U.S.

AUTHOR

JOHN HUGH DEMASTRI

Contributor.

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November Jobs Report Is One Of The Worst Since Biden Took Office

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CORRECTION: This story has been updated to reflect that the number of jobs created in November is among the lowest initially reported for a single month in 2021.

The U.S. economy added 210,000 jobs in November, marking nearly the lowest number of jobs created in a month since President Joe Biden took office in January.

November’s jobs report was well below economists’ estimate of 573,000, according to CNBC. Additionally, unemployment fell to 4.2% from October’s 4.6% figure, according to the Bureau of Labor Statistics.

The U.S. economy, still recovering from the COVID-19 pandemic but now subject to uncertainty related to the Omicron coronavirus variant, appeared to slow in momentum in November, The Wall Street Journal reported.

“Just as Delta derailed the recovery in terms of the labor market, if Omicron behaved like that, I would guess it would hold back any recovery in the labor market,” Justin Weidner, an economist at Deutsche Bank, told the WSJ.

“Greater concerns about the virus could reduce people’s willingness to work in person, which could slow progress in the labor market and intensify supply-chain disruptions,” Federal Reserve Chairman Jerome Powell said in Senate Banking Committee testimony on Tuesday.

The BLS initially reported that 194,000 jobs were added to the economy in September, the lowest number of new jobs for a single month in 2021, but that figure was revised substantially in October to 312,000 jobs, CNBC reported.

COLUMN BY

HARRY WILMERDING

Contributor.

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