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The Secret Sauce to Lowering Wages: Biden’s Loose Border Policy
Walmart is cutting wages for new employees stocking shelves and packing online orders.
This is a surprising turn of events given what appears to be a tight labor market. The ratio of job vacancies to unemployed people remains at an extremely high 1.5 to one. The unemployment rate is 3.8 percent nationwide, with the median among states as low as three percent. Consumer spending rose in July an astonishing 0.8 percent. Retail sales at general merchandise stores, the category that includes Walmart, rose by the same 0.8 percent.
How is Walmart able to reduce wages in an environment of low unemployment and rising demand?
It’s very likely that a hidden-in-plain sight program of Bidenonomics is putting downward pressure on wages: uncontrolled migration.
A new report from Fitch Ratings details that higher levels of migration into the U.S. in 2022 and 2023 has increased the labor supply, driven up labor force participation, eased labor shortages that were pushing wages higher, and allowed companies like Walmart to keep growing payrolls.
“Labor supply has increased, largely on the supply and participation of immigrants, and an uptick in the participation of prime aged workers between ages 25-54,” said Olu Sonola, Head of U.S. Regional Economics.
The border crossers not only add to the total number available to be hired, they tend to have a higher work force participation rate. --->READ MORE HERE
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President Joe Biden’s Department of Homeland Security (DHS) has launched a nationwide workforce initiative that seeks to funnel millions of border crossers and illegal aliens into United States jobs — even as the labor force participation rate for Americans continues to decline.
On Wednesday, Biden’s DHS announced “a first-of-its-kind national campaign” to make millions of border crossers and illegal aliens, who have been released into the U.S. interior, aware that they are eligible for work permits to take American jobs.
DHS officials wrote in a press release:
Hundreds of thousands of email and text notifications have been sent by the United States Citizenship and Immigration Services (USCIS) in English, Spanish, and Haitian Creole, with additional notifications in Ukrainian and Russian planned in the coming days. [Emphasis added]These notifications are the start of a government-wide effort to integrate newly arrived noncitizens into the American workforce … USCIS will also begin distributing flyers to local NGOs, stakeholders, and migrants to explain the [Employment Authorization Document] process and provide them with a QR code for instant access to the application. [Emphasis added]
Specifically, DHS officials said they are mostly connecting with border crossers and illegal aliens from Cuba, Haiti, Nicaragua, Venezuela, and Ukraine who have been released into the U.S. interior to “remind them of their eligibility to apply for a work permit.” --->READ MORE HEREFollow link below to a relevant story:
+++++New Labor Stats Show Foreign Workers Gaining Jobs While Native-Born Workers See Decline+++++
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