Loading ...USA – All New US Jobs Since The Covid Crash Have Gone To Foreign-Born Workers
This could get political fast…
But then, if one starts digging, some peculiarities emerge, like for example that much of jobs created in recent years have gone to “multiple jobholders“, meaning that not every “payroll” has been assigned to a unique individual, but instead there are now people who hold two, three or more jobs to make ends meet.
Or that much of the recent job creation has gone to low-paying part-time workers while full time jobs have stagnated.
This means that all the new job creation since the covid crash has gone to foreign workers, with native-born workers stagnating and still unable to break above pre-covid highs, even though if one merely extends the pre-covid trendline, native-born workers should have long ago surpassed their 2019 highs. Said otherwise, millions of native jobs have quietly gone to (lower paid) foreigners.
https://www.zerohedge.com/economics/all-new-us-jobs-covid-crash-have-gone-foreign-born-workers
As this implies, all the job numbers for the last 6-12 months are Bullshit. Between the double and triple counting of people holding multiple jobs(many of them part time) the UE rate is artificial. If you keep the same number of people who Don’t have a job (numerator) and divide that by those who are employed (denominator) if you stop double and triple counting the people who have multiple jobs you lower the denominator since they are still individuals employed not actual number of people employed. This results in an UE rate much higher than the BS the govt. keeps reporting. Expect more of the same with today’s number.(This all goes along with the FED tightening based on a lie that employment is strong.)
Should have worded this clearer. Meant to say number of people employed vs the total number of jobs held. Obviously, multiple jobs inflates the denominator but does nothing to lower the UE rate.
How do all the clot shot injuries figure into these stats? I would imagine the numbers of sick or disabled are not counted among the unemployed. These dickheads have million ways to con us!
Good point. That definitely distorts the numbers as well.
Even more ominous and I am sure this is already occurring but will become worse soon is the fact that workers loosing their primary job can’t file for unemployment and don’t show up in the govt. stats if they keep any of their other jobs. They will have to choose between filing for benefits and or quitting their other jobs.This distorts the numbers the FED is using to determine policy as seen in this weeks JOLTS report. The UE rate is going to increase while at the same time workers are going to be quitting from their two or three other P/T jobs to be able to qualify for benefits if those other jobs don’t make up for the 60% or so minus taxes costs of going to work etc.