Submitted by Tyler Durden on 09/07/2015 15:14 -0400
After the Fed admitted over a year ago that the US unemployment rate (which in 2012 was supposed to be a rate hike “threshold” once it hit 6.5% and is now at 5.2%) has become irrelevant in a country where a record 94 million people have left the labor force, and with the Fed poised to hike rates even though US hourly wages have not only not increased for the past 7 years, but for the vast majority of the labor force continue to decline, some have asked – is there any labor-related chart that matters any more?
The answer: a resounding yes, only it is none of the conventional charts that algos and sometimes humans look at.
The one chart that matters more than ever,has little to nothing to do with the Fed’s monetary policy, but everything to do with the November 2016 presidential elections in which the topic of immigration, both legal and illegal, is shaping up to be the most rancorous, contentious and divisive.
The chart is the following, showing the cumulative addition of foreign-born and native-born workers added to US payrolls according to the BLS since December 2007, i.e., since the start of the recession/Second Great Depression.
The chart is especially important because what it shows for just the month of August will be enough to provide the Trump – and every other – campaign with enough soundbites and pivot points to last it for weeks on end: namely, that in August a whopping 698,000 native-born Americans lost their job. This drop was offset by 204,000 foreign-born Americans, who got a job in the month of August.
But the punchline: since December 2007, according to the Household Survey, only 790,000 native born American jobs have been added. Contrast that with the 2.1 million foreign-born Americans who have found a job over the same time period…
… and you have a combustible mess that will lead to serious fireworks during the next GOP primary.
Hi Admin, I just saw this on ZH and thought “Jim Quinn should post this, his readers would be interested”. But I couldn’t figure out how to get you the link. Obviously I didn’t have to!
I live in a rural area and farmers cannot get lazy Americans to do hard work because welfare is a much better deal. Also, it costs a lot more to hire an American. All sides of this problem need attention. Just closing the border won’t suddenly cause lazy Americans to go into the fields and do “piece work” (ie, you get $2 or whatever per hamper picked even if it comes to $15/hr tax free).
robert h siddell jr says:
(ie, you get $2 or whatever per hamper picked even if it comes to $15/hr tax free).
However panhandling the “streets” of the wet coast yields over $200(tax free) for 4 hours of begging.
It blows me away that the FSA can make that much, unfortunately, it’s the sad reality….. Why work?
Then these misfits go to the local soup kitchen, and get free meals on top of that, as well as free accommodation for the night. That leaves $200 left over for that next “fix”.
Like I said…….. just blows me away!!
Read this and remember marco rubio and ted cruz are both COC butt boys for massive increases in h1b visas. A pair of wetback traitors. Jeb’s mini me and mr. my wife is a goldman parasite.
http://www.breitbart.com/big-government/2015/09/07/exclusive-displaced-cast-member-how-disney-replaced-me-other-americans-with-cheap-foreigners-on-h1b-visas/
Thanks T4C. What I was having trouble locating was his email address. It’s probably something obvious, but I didn’t see it on the site. And yeah, it should have been pretty obvious that since it was ZH he’d see it.
@starfcker
I’ve known several people in the tech industry that have had to train their replacements. The article you referenced should be required reading.
A lot of you posting here have an animus against contraception and say that you do not want to pay for it with your taxes.
You might want to think about just what you DO want to pay for, and how much, because more and more people from more collapsing countries will be flooding our shores, legally or not, threatening to collapse our welfare system, our labor markets, and our resource base.
Of course, we need to strictly limit immigration, but, more than that, we need to not only PAY for contraception for our welfare poor, but we need to make the use of contraception a prerequisite not only for collecting any type of government assistance, but also for entry into this country. If you to not agree to control your fertility, you do not get admitted, period. We already have enough demands on our welfare system, our fresh water supply, and our civic services, and enough competition for jobs, without hordes of people from stupid, backward, superstitious cultures coming in here and breeding like rodents.
Contraception is about $300 a month, or $3600 a year. That is cheap insurance against the costs of feeding, “educating” (har), housing, and incarcerating millions of uneducated, semi-literate, unskilled people. It costs about $40,000 a year at least to imprison just one violent felon, never mind the damage to his victims and to the society as a whole.
Chicago, we don’t need to pay jackshit. You have a kid, and get welfare, no problem. The price is, name the dad. He supports his kid, or off to work camp. Have a second kid while on welfare, your benefits get reduced, not increased. The answer is never give them more free shit
Starfcker: I remember seeing an article stating that the cost of having a second child is minimal compared to the cost of having the FIRST one because the big tickets items-car seat, crib, clothes-get handed down. People should not get more money for subsequent children.
Chicago says: “It costs about $40,000 a year at least to imprison just one violent felon, never mind the damage to his victims and to the society as a whole.”
Au contraire, mon ami.
We spend that amount, but as has been shown, those fuckers can be imprisoned for cents per day. If it were me, I would fence off a great big piece of desert, away from roads, and drop their sorry asses inside it with a bit of timber, a hammer, and a few nails for them to make their own shelter, then ever so often drop a bag of beans and a bag of rice into the enclosed area.
This crap that prisoners have entitlements to live all soft and comfy is horseshit.
Ilpoh, your method might reduce incarceration costs per person pretty substantially, but there would still be costs, and they wouldn’t be low.
No matter what, that fenced desert compound would have to be guarded intensively. It costs money in wages and weapons to keep the felons contained. You cannot overstate the ingenuity and determination of people who will do anything to escape back into a life of crime. Guys who have I.Q.s of 85 and can barely spell out A Cat Sat on a Mat, become absolute geniuses at inventing new weapons- there is nothing they can’t figure out how to turn into a lethal weapon, ask anyone who has ever worked in a max security lockup. A fence is not enough, being out in the desert far from roads is not enough.
Prevention is the best cure, especially if we’re to be confronted with multiplying hordes of desperados from failing 3rd world pestholes, in addition to our own swelling hordes of increasingly poor people. Give them bottled water laced with RU486. Do something. There just isn’t enough arable land or fresh water for anyone anymore, and in addition to the hordes of people from abroad, we will have more and more desperate native born citizens who are being squeezed out of jobs and homes- I sit out here in Chicago and pray for rain for the west, because what will happen if the drought there turns into a prolonged mega-drought lasting decades, and the area becomes totally unable to support anything like the 60 million people now living out there? I can easily imagine a “reverse” migration back to the Midwestern, Mid-Atlantic, and Southeastern states that dwarfs the migration out of the dust bowl in the 30s and totally overwhelms these places with a flood of human misery fleeing the dry western states.