More than half of Americans surveyed believe the U.S. economy is in recession, which partly explains former President Donald Trump’s signature line: “Harris broke it.” There is. “Trump will fix it” works very well.
Whether it’s American jobs, the invasion of the southern border, or men competing against women as transgender athletes, Biden-Harris has definitely nailed it. And Trump is definitely aiming to fix that.
a Widely publicized Harris poll In May, it was revealed that 56% of Americans believed the country was in a recession, a finding that was repeated in July. Opinion poll published by Affirm. Still, according to Latest employment report from the Bureau of Labor Statistics (BLS), According to the Establishment Survey, 2.2 million jobs were gained in the past year. What gives? Will employment increase significantly during the recession?
First, the early Biden-Harris inflation spike hurt workers and retirees. When President Trump left office, CPI inflation was 1.4%. Under the Biden-Harris administration, that percentage rose to nearly 9% from the previous year. Today’s toto price is up nearly 20%.
Wage increases have failed to keep up with Biden-Harris inflation. Working households expect their incomes to increase, even after adjusting for inflation. In fact, real median weekly wages have declined since Biden and Harris took office. This is also something they beat. That’s what a recession feels like. It’s not just stagnation, it’s regression.
The rest is determined by employment numbers. From a business and stock market perspective, the economy is doing well, as the establishment survey and recent gross domestic product numbers suggest. (Related: Exclusive: Republican lawmakers demand answers from Biden-Harris administration over ‘failed’ rollout of major employment reforms)
From the perspective of American families, the data tells a different story. BLS also conducts household surveys. According to the Household Survey, employment increased by only 216,000 people. From 1 year ago. I think it’s about 18,000. The number of jobs per month is approximately one-tenth of the monthly rate of establishment surveys. Some studies show strong employment growth, while others show very weak employment growth. The disconnect can be explained by looking at who reports and who gets the jobs, but here things get even worse for American workers.
Household surveys distinguish between native-born and foreign-born workers. Employment of U.S.-born workers, broadly defined as U.S. workers, fell by 773,000. From 1 year ago. It’s not a recession, it’s a recession.
Aerial photo shows people crossing the Rio Grande River and entering the United States at the U.S.-Mexico border in El Paso before surrendering to U.S. Customs and Border Protection (CBP) Border Patrol agents for processing of immigration and asylum claims. shows migrants waiting along the border wall. Texas, May 10, 2023. (PATRICK T. FALLON/AFP via Getty Images)
Who will bridge the gap between the modest top-line increases reported in the Household Expenditure Survey and the large employment declines for American workers?Foreign-born workers. More specifically, most of the 1 million people who entered the United States under the Biden-Harris open borders policy are illegal immigrants. Most of them come to America to work, and they do. (Alfred Ortiz: Worst jobs report since pandemic shatters Kamala’s rosy view of Biden-Harris economy)
This also explains the discrepancy between the employment survey and the household budget survey. As shown, employers have increased hiring over the past year, but employment surveys do not distinguish between native-born and foreign-born workers. So, combining 2.2, we get According to the business establishment survey, employment increased by 1 million people and decreased by 773,000 people. Data suggests that nearly three American workers hold jobs. Millions of Biden-Harris illegal immigrants working American jobs instead of American workers.
Why is this number so much higher than the number of foreign-born workers reported in the Household Survey? If you were working illegally in the United States, would you want to answer the government survey?
By the way, can someone please explain to me why labor unions, which are supposed to be the champions of the working class, support Kamala Harris just to allow more illegal aliens to take American jobs? Huh? Kudos to the Teamsters, firefighters, and Border Patrol for putting the interests of their union members above the interests of Democratic leaders.
J.D. Foster is the former Chief Economist of the Office of Management and Budget and the former Chief Economist and Executive Vice Chairman of the U.S. Chamber of Commerce. He now lives relatively freely in the hills of Idaho.
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