Wall Street Admits The Biggest Economic Shocker: All Jobs In The Past Year Have Gone To Illegal Aliens

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, 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.... ... and even fact-checking the senile, ballot-harvesting White House occupant on multiple occasions.... ... we were shocked that the topic of most if not all US jobs going to illegals was still not "The biggest political talking point" of all.

In other words, "Strong employment growth" for American citizens, always was and remains a fabulation, and the only job growth in the US is for illegals, who will work for below minimum wage, which also explains why inflation hasn't spiked in the past year as millions of illegals were hired.

Which is staggering since last night we showed that about 100K monthly jobs are purely statistical distortions, and the real pace of job growth in the past year has been around 130K. So if 100K jobs per month are fabricated birth/death artifacts, and another 109K jobs per month are illegal aliens, that leaves just about 11K jobs for everyone else, i.e., law abiding Americans.

As Englander himself admits, the 109K estimate of illegal aliens "May be an underestimate since undocumented immigrants often have limited access to benefits, so they may be heavily motivated to find employment. The GDP impact might be lower if these workers are less educated and face language barriers in the work force."

In any event, Englander estimates that over 800k undocumented immigrants found jobs in FY23, and assumes that 64.2% of EAD recipients are working.

Again, this means that when stripping away the 100K in statistical "Jobs" from the 230K monthly payroll number, and then removing the 109K in illegal alien workers, the number of jobs added by ordinary, legal, native-born, Americans in the past year has been - more or less - zero. 

https://www.zerohedge.com/economics/wall-street-admits-biggest-economic-shocker-all-jobs-past-year-have-gone-illegal-aliens