President Joe Biden is expected to significantly increase the presence of foreign-born workers in the United States, introducing approximately half a million individuals into American job positions, even as millions of Americans remain unemployed.
Economists at Goldman Sachs have conducted an analysis predicting that Biden’s efforts to expand the nation’s legal immigration system, which already admits over a million foreign nationals annually through green cards and temporary work visas, will result in the addition of around 500,000 foreign workers to the workforce by mid-June of the following year.
On a monthly basis, the economists observe that Biden is enlarging the labor market by bringing in tens of thousands of foreign workers whom employers can often hire at lower wages and with fewer benefits.
“…growth in the foreign-born labor force has accelerated by 50k to 160k per month this year, lifted by a surging foreign-born labor force participation rate (LFPR),” they note.
The eventual outcome of continually injecting millions of foreign workers into the labor force, as hinted by Federal Reserve Chair Jerome Powell last month, is the “rebalancing” of the labor market to reduce the advantage of employees in favor of employers. This also contributes to keeping wage growth subdued.
“This rebalancing has eased wage pressures,” Powell mentioned. “Wage growth across a range of measures continues to slow, albeit gradually.”
This projection coincides with a recent revelation from the Center for Immigration Studies (CIS), which disclosed that as of April, over 44 million native-born Americans remain outside the labor market, a figure that doesn’t include those native-born Americans factored into the monthly unemployment statistics.
The decline in the participation rate of native-born American workers over the past two decades contrasts with the growing presence of foreign-born workers in the workforce. Between 1960 and 2023, the number of native-born American men aged 16 to 64 who were not in the labor force increased by nearly 14 million. During the same period, the number of foreign-born workers aged 16 to 64 in the labor market grew by 13.7 million.
This trend is most evident among the working and lower-middle classes.
“The share of U.S.-born men aged 20 to 64 without a bachelor’s degree shows a decline in labor force participation from 93 percent in 1960 to 87 percent in 1980, 84.1 percent in 2000, and 77.3 percent in April of this year,” write CIS researchers Steven Camarota and Karen Zeigler.
In contrast, foreign-born men in the same age group without a bachelor’s degree have seen their labor force participation rate decrease since 2006, but it still remains higher than that of native-born American working-class men. In April, 85.8 percent of foreign-born working-class men were part of the workforce, nearly 10 percent more than their native-born counterparts.
{Matzav.com}
America last.
He has so much growth in office that the ghosts are jarred!
How can we deny this man grows to his very clever beat? What a riding bull!
As if this thing called Biden has any power. All mainstream propaganda.
There are nine million job openings and only six million people looking for jobs. The 44 million not in the job market include everyone 16 and over not employed or actively seeking work. That includes high school and college students, Jewish men learning in Kollel, stay at home mothers, and adults who quit their jobs to take care of elderly parents. There is nothing wrong with any of this. It also includes people who retire early. Nothing wrong with that, either. It is a sign of a growing economy in a prosperous country.
The very language used here makes it clear that the Center for Immigration Studies is a bunch of nativist bigots. Many of us have parents, spouses, or siblings who were born outside the US. This hate group thinks that they shouldn’t be here! And they want to force what they think are real Americans (hint: that doesn’t include many of us) to be forced to work until we drop dead.
So as Mayor Adams suggested, how many illegal undocumented unvaccinated migrant bums are YOU hosting in your all white building in Riverdale?