Yet the MSM teased out a number of Happy Days Are Here Again factoids:
But back then, immigration and native-born population growth was at a standstill. Stagnant population growth ameliorated the impact of stagnant job growth. By contrast, U.S. population has grown by about 12.5 million since 2008—most of it due to new immigrants and their U.S.-born children.
For perspective we analyze the “other” employment survey, of households rather than business establishments. The Household Employment Survey reports total U.S. employment at 145.814 million in May, or more than 7 million above the Establishment Survey’s total. As VDARE.com has uniquely pointed out, this discrepancy reflects, in part, the reluctance of employers to acknowledge the existence of illegal aliens on their payrolls.
Only 145,000 jobs were created in May, according to the Household Survey. The Household survey now breaks out the employment of immigrants, legal and illegal. Our analysis of the data finds that all of this May job gain accrued to immigrants:
The displacement of native-born American workers by immigrants has been a central fact of economic life during most of the Obama era. This is evident in our New VDARE.com American Worker Displacement Index (NVDAWDI) graphic:
Native-born American employment growth is the blue line, immigrant employment growth is in pink, and NVAWDI—the ratio of immigrant to native-born American job growth—is in yellow. The graphic starts at 100.0 for both native-born American and immigrant employment in January 2009, and tracks their growth since then.
From January 2009 to May 2014:
|Employment Status by Nativity, May 2013-May 2014(numbers in 1000s; not seasonally adjusted)|
|Foreign born, 16 years and older|
|Civilian labor force||24,958||25,392||434||1.7%|
|Participation rate (%)||66.5%||65.7%||-0.8%||-1.2%|
|Unemployment rate (%)||6.3%||5.6%||-0.7%||-11.1%|
|Not in labor force||12,545||13,245||700||5.6%|
|Native born, 16 years and older|
|Civilian labor force||130,776||130,448||-328||-0.3%|
|Participation rate (%)||62.9%||62.4%||-0.5%||-0.8%|
|Unemployment rate (%)||7.4%||6.2%||-1.2%||-16.2%|
|Not in labor force||77,084||78,537||1,453||1.9%|
|Source: BLS, The Employment Situation - April 2014,Table A-7, June 6, 2014.PDF|
Over the past 12 months:
If these differentials persist, the number of working-age immigrants will double in only 24 years. It will take 144 years for native-born workers to match that.
We need a Depression-era moratorium to counter-balance our increasingly Depression-era economy.
Edwin S. Rubenstein (email him) is President of ESR Research Economic Consultants.