For much of the past year we had been pounding the table on two very simple facts: not only has the US labor market been appallingly weak, with most of the jobs "gained" in 2023 and meant to signal how strong the Biden "recovery" has been, about to be revised away (as first the Philly Fed and now Bloomberg both admit), but more shockingly, all the job growth in the past few years has gone to illegal aliens.
We first pointed this out more than a year ago, and since then we have routinely repeated - again, again, and again - yet even though we made it abundantly clear what was happening...
... going so far as to point out the specific immigration loophole illegals were using to work in the US for up to 5 years...Stunning statistic: there has been ZERO INCREASE in jobs for native-born workers in over five years, since July 2018! pic.twitter.com/mxdpmPHIbO
— zerohedge (@zerohedge) January 5, 2024
