Turns out all the new jobs are part-time. And none of them are going to natives.
— Peter St Onge, Ph.D. (@profstonge) April 16, 2024
Last month we got yet another "blockbuster" jobs report -- this time 300,000 new jobs.
And, once again, it's BS under the surface.
We actually lost full-time jobs -- 6,000 of them.
And natives… pic.twitter.com/OWrxSuvgun
The Biden jobs miracle keeps grinding away with a "Stellar March jobs report logging nearly 300,000 new jobs" that blew away even the most meth-pumped analyst on Wall Street and it makes the third month in a row of improbably tremendous job beats."
Just one problem: it was all part-time jobs.
Full-time jobs actually fell by 6,000, continuing a trend over the past year where full-time workers have collapsed by almost a million and a half, replaced by nearly 2 million part-time workers. Put them together, and presto, job growth!
Sadly what real jobs are left apparently did not even go to native-born Americans. In fact, they lost precisely 651,000 jobs last month, bringing the 3-month tally to nearly 1.5 million jobs lost by the native-born in 3 months. In fact, there's been literally zero job growth for native-born workers since 2018, of which, according to the Center for Immigration Statistics, roughly half actually went to the 9 million illegals. To give a sense of the scale, over 1 in 3 U.S.-born men with a high school degree are not working. Things are fine of course for those with a bachelor's degree. 90% of them have a job, and no doubt cheap nannies and lawn care. Keep in mind this is all best case because I've mentioned in a recent video the epic statistical divergence between official payroll numbers, sampled from companies, and the household numbers which actually asked people if they have a job. The gap between the two currently stands at a daunting 9 million phantom jobs; maybe they exist, maybe they don't. The BLS just extrapolates, they don't actually work here. Now, I mentioned in recent videos that the most amazing thing about the grim jobs picture is that this is happening even with 2 trillion dollar deficits that should, in theory at least, be buying some jobs. After all, spend that much money, and somebody gets paid; in other words, we can only imagine what's under the hood once you peel off the trillions pouring out of Washington. Given both the border and Washington's checkbook are wide open, expect more millions of migrants to boost the jobs numbers while holding down wage gains for natives who do still have a job. Just a few weeks ago Jerome Powell actually bragged about this on 60 Minutes crediting the open border for holding down blue-collar wages which he likes because it does the inflation dirty work for him, of course, at the expense of those blue-collar workers or former workers buying groceries on layaway while Paul Krugman lectures them about the Bidenomics miracle. Do not expect much relief at least until the election, and even then it will be trench warfare against a Uniparty that is addicted to government spending, the regulatory Jihad on small business, and the cheap imported labor that keeps jobs and wages under control.
