Yesterday we pointed out something stunning (and a big problem for the Biden administration): while the US economy has added 3.3 million jobs from the pre-covid highs (make that 3.8 million after today's blowout print)...
... all of the new jobs have gone to foreign-born workers, with native-born workers stagnating and unable to surpass their pre-covid highs of 131.7 million, set in Oct 2019.
Well, as shown in the chart above, when updating the series for the latest May data, we find something startling, if not completely unexpected: in May, while the headline payrolls print was a blowout 339K (almost double the 195K expected), a quick look at the underlying numbers shows where the BLS grift was this particular month.
The answer: in May, the number of native born workers tumbled again, dropping by a whopping 369K to 130.744 million, still below the pre-covid highs and barely higher than at the start of the year, but this number was offset almost 1 to 1 by the increase in foreign born workers, which surged by 297K to a record high 30.359 million. This was the biggest monthly drop in native-born workers since November 2022.
And so, when Joe Biden takes his daily victory lap, patting both himself and his data-fudgers at the BLS on the back, maybe someone in the press corp can ask the president: is he more focused on creating jobs for Americans, or foreigners?