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Economists are expressing concern over the increasing number of illegal immigrants in the United States, who they believe are obscuring the actual condition of the jobs market and the U.S. economy.etty Images)For the last few years, the headline employment figure has been impressive. The country has recovered the lost jobs from the government-imposed shutdowns during the pandemic and added a few million more, despite a climate of high inflation and rising interest rates.In 2023, the economy added approximately 3 million new positions. To kick off 2024, more than 800,000 new jobs have been added.The labor market data is critical as...

Tens of thousands of Americans have been made redundant at large companies this year. according to Warn Tracker, a website that tracks upcoming layoffs based on WARN (Worker Adjustment and Retraining Notification Act of 1988) notices. The WARN Act mandates that employers conducting large-scale layoffs or closures notify employees as well as state government officials of job losses at least 60 days in advance. WARN notices must be served by companies that have 100 or more full-time employees or 100 or more employees who, in aggregate, work at least 4,000 hours per week, excluding overtime.

The words "intelligence" and "White House" aren't terms we use in the same sentence much lately, but today it's necessary, as the Biden administration's annual Economic Report of the President includes an entire section on artificial intelligence (AI) and the possibility of Americans losing their jobs because of an AI takeover.The White House released a report Thursday that found roughly 10% of the U.S. workforce is in occupations with a high degree of exposure to artificial intelligence (AI) with lower performance requirements that could leave them more vulnerable to displacement.According to the report, 20% of American workers are in occupations...

In 2022, Seattle's City Council passed an ordinance mandating a minimum earnings floor for app-based food delivery drivers in the city. The law finally went into effect in January 2024, but so far the main result has been customers deleting their delivery apps en masse, food orders plummeting, and driver pay cratering. The ordinance, part of a legislative package called "PayUp," was passed under the banner of protecting gig workers. By setting a compensation floor for app-based delivery drivers based on miles driven and amount of time worked, the ordinance operates as a (supremely complicated) minimum wage. The wage floor...

The jobless rate rose to 3.9%, up from 3.7% in January, even as employers added 275,000 jobs, the Labor Department said. Its monthly report is being closely watched for clues into how the world's largest economy is absorbing the jump in borrowing costs since 2022. The latest numbers sent mixed signals. Overall, analysts said there was little in the report to fuel major worries or raise fears that the economy would be harmed by higher interest rates. "Overall things still looking good," said Harvard professor Josh Furman, a former economic advisor to Barack Obama, on social media, while adding that...

Tonight the US Central Command denying any connection between humanitarian air drops in Gaza and civilian deaths... The ex-president of Honduras convicted by a New York federal jury on drug trafficking charges... In Rimouski, Quebec today Canadian farmers protesting over the costs of regulation and lower incomes... A report in the UK....an undercover British Army spy in the IRA terrorist organization decades ago in Northern Ireland save some lives but cost others... In Athens Greek parliament approving legislation to allow private universities... New leadership at the Republican National Committee... "I told him 'Bibi'--and don't repeat this--but you and I are...

link only, as it is from USA Today

Log onto Facebook. Before you know it, you’ll see ads from Temu or Wish, pitching cheap products. Or open your old email account, the one that you’ve had for years, so it gets the most spam. Every other message is an offer from some unknown store, selling the sort of thing in which a person like you just might be interested. Or log onto Amazon and look for something, anything at all. Twenty percent of the hits, maybe more, will be “sponsored” items, often from a brand you’ve never heard of. Of course, you can shut down the internet, close...

The January 24 Jobs Report dropped today and of course, our pals on the Left are doing what they do every month and acting like Biden is doing a great job! So many new jobs created! Unemployment down! BIDEN BOOM they say. And as usual, it's a bunch of horse crap. Big thanks to E.J. Atoni, Ph.D. for doing the actual footwork and showing the reality of our country right now. Hint, it ain't good. STOP going crazy about this jobs report: BLS themselves told us last month that data from Jan '24 and later months are NOT directly comparable...

Supporters of former President Donald Trump cite his economic record as a reason to vote for him, but that's a bit puzzling. Why it matters: Trump's economic record is only good if you leave off what happened from March 2020 to the end of his administration. Zoom in: When the pandemic hit, the jobless rate soared to a record 14.8% — a level not seen since the Great Depression. The rate did come down a bit after that, but when Trump left office there were fewer jobs in the country than when he got there — the first time that's...

Hi everyone, senior tech reporter Kylie Robison here. I don’t want to say the L-word first, but it’s starting to look like some feelings are changing. Layoffs, not love, are in the air again. Google slashed hundreds of jobs today, while Instagram cut several dozen of its own on Wednesday Also this week, Amazon’s Twitch and Prime Video divisions announced hundreds of layoffs each, or a 35% reduction in staff, and AI startup Humane, which raised over $200 million and plans to ship its new wearable in the coming months, just cut 4% of its employees. Adding to the bloodshed,...

In the most recent BLS employment report, the percentage of full-time jobs relative to the population dropped sharply. The robust headline number of 216,000 led most media commentators to suggest a “soft landing” is at hand. However, the decline in full-time employment suggests recession risks are higher than thought.To understand why such is the case, we must first review why the current economic environment remains stronger than anticipated. In mid-2023, we discussed how the massive monetary infusions supported economic activity, and we were experiencing a “manufacturing” recession but not an economic one.“In 2011, the world faced a manufacturing shutdown as...

There’s something wrong with previous U.S. jobs reports. The government quietly erased 439,000 jobs through November 2023, a closer look at the numbers from the Bureau of Labor Statistics shows. That means its initial jobs results were inflated by 439,000 positions, and the job market is not as healthy as the government suggests. Since the government wiped out 439,000 jobs after the fact, the total percentage of jobs created by the government last year is even higher. Increased government hiring has been driving the jobs numbers higher.

A recent Congressional Budget Office (CBO) report has cast a shadow over the U.S. economic landscape, predicting a rise in unemployment from the current 3.9% to 4.4% by the end of 2024. This sobering forecast suggests potential job losses for approximately 7.4 million Americans, highlighting the precarious nature of the workforce amidst a contracting gross domestic product (GDP). The CBO attributes the anticipated increase in unemployment to economic adjustments and policy shifts. As the nation grapples with these changes, weaker consumer spending is expected into the next year, along with a contraction in nonresidential investment. These factors are projected to...

19 months in a row! The Conference Board’s index of leading economic indicators has now fallen for 19 months in a row. When something happens for 19 consecutive months, that is definitely a trend. The economy is clearly in big trouble, and conditions are getting worse with each passing day. But the mainstream media continues to insist that the economy is doing just great. They tell us that inflation is low, but if it was still measured the way that it was back in 1980, the official rate of inflation would be well into double digit territory. And they tell...

The 10-year Treasury yield set off roaring alarms about the U.S. budget when it surged to 5% last month. Now those warnings look like a fire drill. Federal Reserve rate hikes seem to be over for now, giving the bond market a reprieve and allowing a powerful S&P 500 rally to resume. Enjoy it while it lasts. The next debt scare may be the real thing, and it could rock the U.S. economy and stock market. Here's why: The Fed's historic turnabout, from enabling massive budget deficits to directing the sharpest rate hikes in 40 years, has seemingly broken the...

The household survey shows employment collapsed by 348K, the biggest drop since the Covid shutdown. As usual, historical data was revised massively lower, with the jobs change for August revised down by 62,000, from +227,000 to +165,000, and the change for September was revised down by 39,000, from +336,000 to +297,000. With these revisions, employment in August and September combined is 101,000 lower than previously reported. In total, 8 of the past 8 months have been revised sharply lower in what only idiots can not see is clearly mandated political propaganda designed to make the economy look stronger at first...

Officials are working to determine how long Robert Card had been deceased The Maine Army Reservist who slaughtered 18 of his neighbors and wounded 13 others in a mass shooting Wednesday night has been found dead Friday — more than 48 hours after he inflicted carnage in Lewiston and sparked a massive manhunt in the peaceful New England state. Robert Card II is believed to have died of a self-inflicted gunshot wound, authorities announced at a press conference Friday night. Officials did not provide many details on the circumstances that led to the discovery of his body in the nearby...

We will attempt to look at an entire job class today, so there are going to be some unavoidable generalizations. Even so, certain truths do apply across the board, whether we like admitting to them or not. Some of us love the self checkout line at the grocery store. We don’t slow down the other people in line; we can pack our own bags the way we want to, and as long as we can get the discount programs to work and the pricing is right, it can be a nice change to brighten our day. But most of us...

According to Axios, a left-leaning publication, the only thing keeping the American economy afloat is the blessed presence of foreign-born workers…because those lazy Americans just won’t work. However, according to a study by Zero Hedge, Americans are losing their jobs like crazy, and only foreign-born workers are getting those jobs. Who to believe? Who to believe? First, Axios:Immigrants are joining the U.S. workforce at much higher levels than normal.They're likely to account for roughly half a million new jobs over the next three quarters, per a new report from Goldman Sachs.Why it matters: As the U.S. continues to struggle with...