The latest Bureau of Labor Statistics (BLS) report reveals that more than 800,000 native-born Americans are out of work compared to last year, as foreign-born employment has risen sharply by approximately 1.2 million jobs. This shift raises serious concerns about the priorities of the Biden-Harris administration when it comes to labor policies.
While the administration touts the creation of 254,000 new jobs in September as a success, native workers continue to struggle. Despite a gain of 920,000 in native employment from August to September, the year-over-year data reflects a troubling trend.
In their response to the jobs report, the Biden-Harris administration claimed, “Today, we received good news for American workers and families. With today’s report, we’ve created 16 million jobs, unemployment remains low, and wages are growing faster than prices.” However, these assertions are met with skepticism by many who are experiencing the impacts of rising inflation.
Real wages have declined by 1.3% since the first quarter of 2021, largely due to a more than 20% increase in prices since Biden took office. The combination of inflation and stagnant wages is making life increasingly difficult for American families.
To tackle these economic challenges, the Federal Reserve raised interest rates to a 23-year high, aiming to curb inflation but inadvertently pushing many Americans closer to financial distress. Delinquent credit card balances have surged to their highest level since at least 2012.
As the administration continues to favor policies that prioritize cheap labor and migrants over the interests of native-born Americans, the workforce landscape becomes increasingly concerning. The stark contrast in employment opportunities raises critical questions about the direction of U.S. labor policies under the current administration.
