The August jobs numbers are out as we look forward to Labor Day. The main takeaway is that unemployment numbers surged “unexpectedly.”
It seems the “experts” are constantly surprised about the underperformance of the U.S. economy. A perfect example is that the jobs figures have been revised downward for every month in 2023. Economic predications are made using models that often bear little relation to how the real world operates in order to arrive at desired results for those who make policy – policy which is predicated on the outcomes of models that bear little relation to the real world. Political pressures unfortunately but indisputably factor into how the federal government presents data. An administration trumpets “more jobs than expected” and gets the headlines it wants, while the later revision of those numbers downward by 30,000 (as was the case for July) passes with little notice in the corporate media.
You may see a lot of chatter about how bad things would be if immigration were lower, and how badly we need more immigration to improve the economy. The bright side of the August jobs numbers is that more people are coming off the sidelines looking for work, hence the spike in the unemployment rate. People who aren’t seeking jobs aren’t counted. However, Steve Camarota at the Center for Immigration Studies reported this week, the number of U.S-born participating in the labor force has declined for many years. For U.S.-born men this trend began in the 1960s. In other words, it’s becoming more difficult for American workers to get hired in America.
The “experts” tell us that our labor force “would soon be shrinking rapidly if not for immigration.” Do they consider that millions of Americans would be joining the labor force and earning better pay if the United States had a sensible immigration policy?
The Labor Day Weekend is a time to relax, enjoy family and friends, and to commemorate the American labor movement – which, should surprise no one, was instrumental in putting an end to the Great Wave of immigration that resulted in tremendous gains for American workers in the first half of the 20th Century.
The fight continues. Happy Labor Day!
