The economists were wrong—again!
January’s jobs report is out, and it’s pretty much all good news: The U.S. economy added 130,000 jobs in January, and the unemployment rate fell to 4.3 percent. Wages are up and the number of people working part-time because they can’t find full time work is down. The number of jobs added in the private sector is even higher—172,000—offset by cuts to federal jobs. (For small government folks, that’s a win-win.)
Remember in April when the economists were prognosticating doom and gloom? When they told you the tariffs would be massively inflationary and cause immense job losses? When they predicted that deporting illegal labor would destroy the economy, which everyone knows requires a surf caste to keep down costs?
This was one of the rationales behind President Biden’s open border. Republicans think it was about getting illegal aliens to vote, but it’s really about economics: The Democrats are now the party of the rich, and their base of wealthy, over-credentialed elites are the consumers of the low wage labor of illegal aliens.
How do I know it’s about labor?
When Biden’s DHS Secretary Alejandro Mayorkas was hauled before the Senate, he routinely bemoaned the lack of cheap labor plaguing poor American corporations. He of course denied the border was open, but Mayorkas would also almost always say the quiet part out loud: American corporations need more cheap labor.
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