Standard Chartered's global head of macro, Steve Englander who in a note titled simply enough "Immigration leading to labor-market surge" adds that "asylum seekers and humanitarian parolees explain the surge in undocumented immigrants" before concluding that the continued rise in EAD approvals likely will extend strong employment growth in 2024.
In other words, "strong employment growth" for American citizens, always was and remains a fabulation, and the only job growth in the US is for illegals, who will work for below minimum wage, which also explains why inflation hasn't spiked in the past year as millions of illegals were hired.
Englander writes that immigration, particularly illegal immigration, "is a political flashpoint that has also become an important factor in assessing economic performance. Detailed data from US Customs and Border Protection (CBP) and US Citizenship and Immigration Services (USCIS) suggest that half of non-farm payroll (NFP) growth to date for FY24 (started 1 October 2023) has been from undocumented immigrants who have received an Employment Authorization Document (EAD)"
If 100K jobs per month are fabricated birth/death artifacts (i.e., not real jobs but a statistically goalseeked fudge factor), and another 109K jobs per month are illegal aliens, that leaves just about 11K jobs for everyone else, i.e., law abiding Americans.
@ISIDEWITH3 týždne3W
How do you feel about the statement that strong employment growth for American citizens is a 'fabulation', with actual job growth mainly benefiting undocumented immigrants?
@ISIDEWITH3 týždne3W
Do you believe it's fair for native-born Americans and legal immigrants when employment growth is primarily driven by undocumented immigrants?
@ISIDEWITH3 týždne3W
How does the idea that half of the non-farm payroll growth coming from undocumented immigrants who received work authorization affect your view on immigration and employment policies?
