- Joined
- Jun 18, 2018
- Messages
- 80,461
- Reaction score
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- Political Leaning
- Progressive
"The unemployment rate has historically been the go-to barometer for the economy’s performance. At just over 4 percent, unemployment remains low, and it has edged only a bit higher since the start of the year. Taken at face value, the economy is doing just fine. But it’s not. If the labor force had increased this year at the pace it did last year, the unemployment rate would be headed toward 5 percent. Of course, low unemployment is great, but only if it is due to lots of new jobs, not an evaporating labor force. And the labor force, which includes all those working and looking for work, is sounding the recession alarm bell. It has flatlined so far this year. Compare this with last year, when the labor force grew by well over 1 million workers, or the year before, when it increased by almost 2.5 million. Without more workers, it is tough for the economy to grow: A recession is more likely.
It’s no mystery what ails the labor force; it is the severe restrictions on immigration. The surge in undocumented immigrants that occurred during much of the Biden administration undoubtedly put financial and societal pressures on many communities across the country. However, many of these immigrants quickly applied for work authorization, received it and started a job less than a year after arriving. Immigration policy has since been flipped on its head, beginning at the end of Joe Biden’s presidency with his executive order to restrict asylum seekers. President Donald Trump’s policies have since shut down the southern border, and many immigrants are leaving the country either forcibly or through self-deportation.
Lawmakers could agree on substantive immigration reform. As recently as this time last year, they nearly passed bipartisan legislation allowing more immigrants with needed skills to come here. Presidential election politics waylaid that effort, and though another political window for these reforms might open again, it won’t happen quickly enough. Given the current immigration policy, it seems increasingly unlikely that the moribund labor force will come back to life soon, and more likely that a recession is dead ahead."
Link
Sorry Maga. I know the sadistic cruelty of Trump's immigration policy feels very satisfying, but you're cutting off your nose to despite your face.
It’s no mystery what ails the labor force; it is the severe restrictions on immigration. The surge in undocumented immigrants that occurred during much of the Biden administration undoubtedly put financial and societal pressures on many communities across the country. However, many of these immigrants quickly applied for work authorization, received it and started a job less than a year after arriving. Immigration policy has since been flipped on its head, beginning at the end of Joe Biden’s presidency with his executive order to restrict asylum seekers. President Donald Trump’s policies have since shut down the southern border, and many immigrants are leaving the country either forcibly or through self-deportation.
Lawmakers could agree on substantive immigration reform. As recently as this time last year, they nearly passed bipartisan legislation allowing more immigrants with needed skills to come here. Presidential election politics waylaid that effort, and though another political window for these reforms might open again, it won’t happen quickly enough. Given the current immigration policy, it seems increasingly unlikely that the moribund labor force will come back to life soon, and more likely that a recession is dead ahead."
Link
Sorry Maga. I know the sadistic cruelty of Trump's immigration policy feels very satisfying, but you're cutting off your nose to despite your face.