The Trump Effect — Immigrant Displacement Of American Workers Hits The Wall
Forty-plus years in financial journalism taught me that people aren’t really interested in economic data. They say they are, but (unless the sky is falling, as in 2008) what really grabs them is war, race, sex, drugs, and rock-n-roll. Nevertheless, data does sometimes matter and now may be one of these times—it looks like immigration, and immigrant displacement of American workers, has finally hit the wall.
The evidence appeared in the monthly Bureau of Labor Statistics Household Survey, which was released last Friday. Most commentators grumped about the relatively low job growth rate. But I always look at the analyses prepared by economic consultant Edwin S. Rubenstein of ESR Research, previously of the Hudson Institute and National Review. [More]