In the last year, the U.S. bid farewell to a staggering 284,000 full-time jobs, only to welcome an army of 921,000 part-time positions. The rhythm of the job market seems to be changing, and not everyone might be dancing to the same tune.
February witnessed a record-breaking surge of 1.2 million foreign-born jobs. Is this influx crowding the stage, leaving native-born workers in the shadows?
Native-born job woes continue, with the past three months witnessing a colossal loss of 2.4 million jobs, and February alone marked a departure of 494,000 positions. It’s not just a hiccup; it’s a trend that demands attention.
The scoreboard since May 2018 tells a tale of zero job growth for native-born Americans. Every job gain over the past six years seems to have found a home with immigrants, both legal and illegal.
As we unpack these statistics, a crucial question emerges: Is the “Greatest Jobs Market Ever” a well-crafted illusion? The Biden administration’s penchant for data revisions adds a layer of skepticism. Today’s celebration might turn into tomorrow’s reassessment.
In the intricate dance of employment figures, are we witnessing a flourishing job market or a puzzle with missing pieces? The numbers tell a tale of uncertainty, urging us to look beyond the headlines.
Crazy stats about the true state of labor market you won't hear anywhere else:
1. In the past year, the US has lost 284K full-time jobs, these have been replaced with 921K part-time jobs
2. In February alone, a record 1.2 million foreign-born jobs were added.
3. In the past… pic.twitter.com/AXb9gFuWUK
— zerohedge (@zerohedge) March 8, 2024
In the past month the Biden department of goalseeking stuff higher before revising it lower, has revised the following data sharply lower:
– Jobs
– JOLTS
– New Home sales
– Housing Starts and Permits
– Industrial Production
– PCE and core PCE— zerohedge (@zerohedge) August 30, 2023
— 🤠Weimar Silver Baron🤠 (@BankerWeimar) March 8, 2024
Everything is fine … 🔥🔥🔥 pic.twitter.com/pSgXhkJunI
— Wall Street Silver (@WallStreetSilv) March 8, 2024
Full-Time Jobs USA
Feb: 2024: 132.9M
June 2023: 134.7M*-1.8 million. BLS data.
**Under the surface – a lot is going on – believe half of what you see and none of what you hear.
— Lawrence McDonald (@Convertbond) March 8, 2024
11 out of the last 13 jobs reports have been revised down from the original headline-generating numbers.
The regime is cooking the books. pic.twitter.com/et1hbGRTkT
— End Wokeness (@EndWokeness) March 8, 2024
The latest household survey paints a mixed picture: part-time jobs growth holding up while yoy full-time jobs growth turns negative.#Jobs #JobsReport pic.twitter.com/ojKw6jHcpj
— Economic Cycle Research Institute (ECRI) (@businesscycle) March 8, 2024
h/t Dan