In September Jobs Armageddon, Immigrants Gain, Americans Lose; Displacement Hits All-Time High
... September’s displacement is too big a story. It means that the Regime Media spin [Unemployment rate falls to 3.5% in September, payrolls rise by 263,000 as job market stays strong, by Jeff Cox, CNBC, October 7, 2022] is no longer a lie: it is a scandal....
- Immigrants (legal and illegal) gained 681,000 jobs, a 2.38% gain from August
- Native-born Americans lost 477,000 positions, a 0.37% decline from August.
- Thus VDARE.com’s immigrant employment index, set at 100.0 in January 2009, rose to 135.5 from 132.4 in July, a 2.34% increase.
- VDARE com’s native-born American employment index declined last month, to 107.5 from 107.9 in August, a 0.37% reduction....
Never over the past 15 years has the immigrant working-age population expanded this much, for this long:...
The big picture: Despite the drop-off in jobs added in September, the unemployment rate fell to 3.5%; most economists expected it to hold at 3.7%. The labor force participation rate ticked down slightly, to 62.3% from 62.4%.
Average hourly earnings rose 5.0% year-over-year, in September. In most years that would be a stellar achievement. But with CPI up by 8.3% year-over-year in August (latest available reading), it means real, i.e., inflation adjusted wages are falling sharply....