The White House’s economic staffers strongly suggested Tuesday there is no need for extra immigrant workers to fill new jobs in President Donald Trump’s go-go economy.
There are “plenty of [American] workers on the sidelines able to come off” and fill jobs in the growing economy, Rich Burkhauser, a member of Trump’s Council of Economic Advisors, told reporters Tuesday afternoon. The statement contradicts rising complaints from business groups who are worried that wages and salaries are climbing upwards.
Nine million American men have been pushed out of the workforce by the federal government's policy of lowering wages, says Obama economist. But he can't mention the cause — the federal policy of goosing economic growth via cheap-labor immigration.
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— Neil Munro (@NeilMunroDC)
December 19, 2017
More adults are being pulled out of unemployment by the promise of better jobs and higher wages, said the introduction to the report, titled, “Economic Report of the President”:
Consistent with the robust pace of economic growth in the United States, the labor market is the strongest that it has been in decades, with an unemployment rate that remained under 4 percent for much of 2018. Employment is expanding and wages are rising at their fastest pace since 2009. Whenever both quantity and price go up in a market, this must be partly driven by a rise in demand. This suggests that an important change in the labor market has been an increase in the demand for labor, induced potentially by a supply-side expansion enabled by tax reform and deregulation.
The report says worries about a lack of workers are “pessimistic” because millions of people remain on the sidelines:
Although the low unemployment rate is a signal of a strong labor market, there is a question as to whether the rapid pace of hiring can continue and whether there are a sufficient number of remaining potential workers to support continued economic growth. This pessimistic view of the economy’s potential, however, overlooks the extent to which the share of prime-age adults who are in the labor market remains below its historical norm.
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… [data suggests that] 1.7 million prime-age males who are not working [and not looking for work]. Some of these nonworkers are unemployed, while others remain out of the labor force. Because the number of prime-age males who are out of the labor force exceeds that seen in earlier business cycles, this represents an opportunity to further increase employment even while the unemployment rate remains near historical lows.
Federal data shows these sidelined people are rejoining the workforce, so meeting business’s demand for additional workers, the report says:
In the fourth quarter of 2018, 73.1 percent of all adults who started working had been out of the labor force in the previous month—compared with just 26.9 percent who had been unemployed (figure 3-6). This is the largest share coming from out of the labor force since tracking of labor flows began in 1990.
The report shows that Americans’ productivity is rising faster in Trump’s Hire American economy, ensuring that the existing supply of American workers is able to produce more wealth in less time. “Growth in labor productivity, which averaged just 1.0 percent between [mid-2009] and [late 2016] doubled to 2.0 percent in 2018,” the report said.
The report’s confident prediction comes as business groups are demanding greater supplies of immigrant workers and consumers, partly because investors and CEOs want to block rising wages in Trump’s tight labor market.
More at: https://www.breitbart.com/politics/2...grant-workers/
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