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The economy’s current state has left many perplexed as widespread mass layoffs by large employers are occurring nationwide, creating significant challenges for job seekers.
Despite these economic hurdles, the administration of President Joe Biden and mainstream media maintain an optimistic narrative, asserting that the unemployment rate is low and everything is under control. The recent employment report for February, however, has been dubbed by some as “the most ridiculous jobs report in history,” revealing a puzzling paradox.
Digging into the report, it becomes evident that the number of native-born workers in the United States has plummeted by 560,000 in the past month alone, with a staggering decrease of 2.4 million over the last three months. (Related: Latest BLS report shows 187K new jobs in August – but in reality, America lost 670K jobs in two months.)
This stark contrast prompts skepticism, especially when juxtaposed against the claim by the Bureau of Labor Statistics that 1.2 million foreign-born workers were added in February. Such a narrative strains credulity, given the prevailing high levels of layoffs, with February experiencing the highest number since the Great Recession.
Critics argue that the discrepancies between official reports and the visible employment crisis are indicative of gaslighting.
The classification of non-working individuals into either “unemployed” or “not in the labor force” categories adds to the confusion.
In February, 6,458,000 Americans were officially labeled as unemployed, while an additional 100,285,000 were considered “not in the labor force,” resulting in a staggering total of 106,743,000 Americans without jobs.
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This figure surpasses the peak unemployment during the Great Recession, painting a dire picture of the current employment situation. Still, some economists see the rise of immigrants in the U.S. labor force as advantageous for the American workforce and the overall economy.
In 2006, foreign-born workers constituted 15.3 percent of the civilian labor force. By 2023, this figure reached a record high of 18.6 percent.
Mark Zandi, Chief Economist at Moody’s Analytics, believes that the surge in foreign-born workers has alleviated pressure on the economy, potentially contributing to the robust growth witnessed in 2023.
Foreign-born workers in the U.S. labor force numbered around 31.1 million in 2023, out of a total of 167.1 million workers.
Notably, the majority of foreign-born workers are legal immigrants, with unauthorized workers making up 4.6 percent of the U.S. workforce in 2021.
Between 2020 and 2023, over 3.7 million immigrants joined the U.S. labor force, representing a 13.7 percent increase, while native-born workers saw a 2 percent increase over the same period.
Economists claim that immigration is a net benefit for the economy, primarily due to the growth it injects into the population and labor force.
The government also claims that native-born households having fewer children and the aging baby boom generation leaving the job market contribute to a shrinking U.S. population and labor force, making immigration crucial for sustained growth.
But if millions of Americans are currently unemployed as the government’s employment report says, then why is there a need for migrants to “boost America’s labor force” when there are plenty of Americans in need of jobs in the country?
Watch this video from financial expert Gregory Mannarino warning about rising unemployment and the failing American economy.
This video is from the High Hopes channel on Brighteon.com.
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Sources include:
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