President Biden is bragging about job growth in 2023. But he doesn’t say where those jobs are. 
A surge in immigration led to a surge in need for government and social assistance jobs at taxpayer expense. City and local governments are under financial strain.
In a White House Press Release on February 2, president Biden stated “America’s economy is the strongest in the world. Today, we saw more proof, with another month of strong wage gains and employment gains of over 350,000 in January, continuing the strong growth from last year.”
Things Biden Failed to Mention
- The employment level fell by 683,000 in December.
- Although jobs (nonfarm payrolls) rose in January, the employment level fell by 31,000.
- Full-time employment decreased by 63,000 in January.
- Of the 353,000 jobs created in January, 136,000 were government, social assistance, or health.
- Over half the job growth in 2023 was government, social assistance, and health care.
- Cities are struggling to keep up with migrants and the costs are soaring out of sight.
- Inflation is not falling.
- Year-over-year inflation is falling, partly due to easy year-over-year comparisons, despite inflationary pressures of Bidenomics regulations that will show up later.
Jobs Soar but Full Time Employment Is Barely Changed Since May 2022
Nonfarm payrolls and employment levels from the BLS, chart by Mish.
On February 2, I noted Jobs Soar but Full Time Employment Is Barely Changed Since May 2022
Payrolls are up by 5.77 million since May of 2022, but full time employment up only 457 thousand. No amount of BLS smoothing can hide this.
Is Inflation Down? That’s What President Biden Says
Please consider a December Statement from President Joe Biden on the December Consumer Price Index
Today’s report shows that we ended 2023 with inflation down nearly two-thirds from its peak and core inflation at its lowest level since May 2021. We saw prices go down over the course of the year for goods and services that are important for American households like a gallon of gas, a gallon of milk, a dozen eggs, toys, appliances, car rentals, and airline fares. Despite what many forecasters were predicting a year ago, inflation is down while growth and the job market have remained strong. The economy has created more than 14 million jobs since I took office, and wealth, wages, and employment are higher now than under my predecessor.
Consumer Price Index Change Since January 2020 Key Items
- Home Prices (Through October): +45 Percent
- CPI: +19 Percent
- CPI Excluding Food and Energy: +18 Percent
- Rent of Primary Residence: +21 Percent
- Food: +25 Percent
For more numbers and discussion, please see Is Inflation Down? That’s What President Biden Says
Importantly, Inflation is not down. The CPI is not down.
Denver Health at “Critical Point” as 8,000 Migrants Make 20,000 Emergency Visits
As a direct result of migration Denver Health at “Critical Point” as 8,000 Migrants Make 20,000 Emergency Visits
Denver Health CEO Donna Lynne warned Denver Health is at a critical, critical point. Eight-thousand migrants from Central America accounted for approximately 20,000 visits in 2023.
Denver Health asked the Federal Emergency Management Agency to provide funds for immigrants’ medical costs. The state and federal governments aren’t reimbursing the hospital, which spent $136 million for patients who didn’t pay.
New York City
In New York City, Mayor Issues Emergency Executive Order to Stem Migrant Arrivals
Under Bidenomics policy, we have created hundreds of thousands of jobs that are of net negative benefit to US taxpayers.
That’s what Biden is really bragging about.
surely the BIDEN will help with enormous costs of ILLEGALS
Spiraling down the rabbit hole. Our nation has adapted one ugly trip for all.
Some people trying to ignore it with drugs and alcohol. Others removing themselves and possessions from the mainstream taxation system
There is no where to hide.
You shall own nothing and be happy.
Brought to us by our billionaire’s from the World Forum Committee.
Enjoy!
one hell of a great plight ! ….let the good times roll ….while they last…
How can the working population drop per the jobs report as published by the BLS/Census Bureau when the same Census Bureau reported the biggest increase in population since Covid in December ‘23.
link to census.gov
You’ve just discovered the baby boomer time bomb.
link to businessinsider.com
Not enough workers, too many consumers = high inflation for next decade. Unless of course all those immigrants are given amnesty or work authorization.
Choose your poison.
How do you then explain that Gen X, Y and Z combined or 3 generations of working age populations have a population of approximately 186 million people and the retiring Boomers are at 69 million or a 2.7 ratio of working age pop to beneficiary very similar to the boomer and silent generation ratio to the greatest generation ratios when the boomers were coming of age and the greatest generation were retiring?
The X, Y,, Z contribution ratio to Boomer beneficiary ratio considers that all boomers have retired in 2022 per the below link and all of the X, Y,Z generations were in the work force from 16 – death.
link to statista.com
Also participation rates are way down from 2010 decile to the 2020 decile for those under 55 but for those over 55 it is higher thus skewing that more boomers were retired and X, Y, Z were contributing more than prior generations after the Social Security Act passed.
link to bls.gov
In short, it is not Boomers causing the downward revision as much as you allude to.
Because you are not factoring for many things:
1. the explosion of autism which limits this group from joining the work force / productivity. link to cdc.gov
2. the desire of the young to move overseas and be a “digital nomad” instead of living in America
3. the desire of many Gen X, Y, and Z to work gig jobs because they hate manufacturing or the corporate life so they drive Ubers or deliver for DoorDash or have YouTube/Tiktok/OnlyFans/etc jobs
4. the explosion of illness including skyrocketing diabetes, inflammatory diseases, long covid, etc. (blame climate change, plastics in the water, pollution or the tooth fairy but the damage is real).
5. trust fund babies and early retirement from Gen X, Y, Z. Those that work in tech earn a lot of money and can retire early so they don’t contribute to the labor force. There is also people that would rather rent out houses and that’s their full time job and doesn’t contribute to the labor force.
6. the lack of education, we are drowning in immigrants but no one wants to lift a finger to provide education or support but happy to spend tons of money on welfare.
I could go on but what’s the point? As a person of elderly age I already know where this discussion is going, you’ve already made up your mind and are thinking “no one wants to work anymore” without ever thinking things through.
We agree that there are many reasons why X,Y, Z participation rates are lower than prior generations. I would add apathy and anomie to your list.
My point has been that the BLS is the
Bureau of Lying Statistics.
Based upon BS revisions of the Establishment Survey to fudge the numbers for the current and prior administrations I cannot rely on their credibility or give them any credence.
I stand by my retort that Boomers are not the reason that you alluded to for the reason for deduction in the labor pool. I am arguing with a population increase y/o/y due to births, immigration – both legal and illegal – less deaths, emigration, etc., causes a critical thinker and one suspect of BLS reporting to look askance particularly in an election year.
Don’t forget they are mad as hell at what the boomers have done to them so they really don’t give a shit about the same things. Many are running up credit and don’t ever plan to repay because they don’t need a good credit score if they never need a loan to buy a house that they can never afford anyway. The FED boomers and massive bubbles have royally Fd the future Gens
It isn’t the Boomer generation per se. It is the Greatest Generation, Silent Generation and Boomer Generation leadership that ate the seed corn through lobbying, legislating, judicial and executive decisions that gutted the working and middle classes.
See the Powell memo for further edification. A Greatest Generation author.
🎯
I would also add based up the Census Bureau births every 9 seconds in 2022 and deaths every 11 seconds then the population increased approximately 600,000. This leaves approximately 1,000,000 population increase due to immigration.
So again, how does that working age population decrease?
They come for jobs and opportunity. Punish the employers that hire the illegal immigrants with big whopping fines. Soon, no jobs for illegal immigrants, so they will not come. The number dropped dramatically during the last recession when there were no jobs. But know this–you will have no one to mow a lawn, roof a house, or do masonry work. You will have no one to clean bathrooms or flip a burger or lay carpet or remodel your kitchen or cook/clean in the nursing homes.
If jobs for illegals are not available they will not come. People who are willing to pay the going rate will always find workers. Those whose business model relies on exploited labor to get jobs done cheaply will notice it more.
When we cut off the generational welfare to our own citizens of a certain demographic, those low skill jobs will get filled.
Eat or starve.
I am now actively exploring what I need to do to drop out and stop paying this bullshit criminal government any taxes at all. Im officially done.
I will own nothing on paper and pay nothing. Wish me luck
If you move outside of the US and earn less than $107,000 you qualify for the Foreign Earned Income Exclusion. It’s what I do. I’m an American in South Korea and the US government actually uses the US military to guard the border here unlike in the USA. I get so much in return for my taxes. The public transportation and healthcare system here are particularly good compared to the USA’s. It’s rare to see a mom under 30 let alone under 20, so there’s really no welfare class, so taxes go to infrastructure instead.
As good as that is now, and I am not trying to be negative, but rare to see a mom under 30?
So will they eventually go by the way of Japan???
An excellent analysis. And what of the unknown (b)(t)rillions spent to pay the expenses of the millions who should not be here. Another enormous net negative.
The reason there are fewer minority owned businesses and CEOs is the US government hired them so they couldn’t reach their full potential.
That is a very interesting topic rarely discussed in America. Seriously, and thank you for bringing this up. Here is my take and it is a running minor feud i have with African American friends, notice I did not say black.
African Americans have been on the liberal democrat plantation so long they know next to nothing about the private sector/self employed business, small business, and how hard is to maintain and survive and the joys that can come from being successful enough to make a living out of it. Sure there are probably more minority owned businesses than ever before , and black owned but I bet you still “African American” ownership is the part that is lacking. And this is a big distinction.
I remember my hometown, the city part was ghettoish, who opened a “black” owned business? Jamaicans. Black people from all over the world have not been mentally contaminated by the Liberal Democrat mentality that tells them socialism is the answer and racism is always everywhere.
The lack of African American owned businesses in their communities builds a resentment to the outside world and the non african american and even black owned business that do exist in their communities. But it is their own dam fault.
Sure there are more black owned business in America than over before but how many are owned by African Americans and not black people from all over the world? There is a distinction and I feel it needs to be brought up.
Remember the L A Riots. How many of the businesses inside Watts were owned by South Koreans? Although I do remember a black man yelling in tears how african americans were destroying his african american owned business.
Thank you for bringing this up
there are lots and lots of black entrepreneurs and businessmen …..selling marijuana and other drugs, some also growing it, fencing goods for shoplifters, to name only a few vocatins…….
John. Are you taking my post as some kind of excuse for the sad situation African Americans are in in this country??? Because if you read it clearly I was and am not.
Keep in mind that some of the Korean store owners who had their stores burned down in the 1992 Los Angeles riots were former slaves. Not the great, great, great, great, great, great, great, great-grandchildren of former slaves like black Americans, but actual former slaves themselves. Japan had a massive amount of Korean slaves until 1945 and the riots happened just 47 years after the end of WWII. A lot of the Koreans were very young when they were enslaved, especially the sex slaves used by the Japanese Army who were sometimes pre-teens. Former slaves came to black American neighborhoods and made something of themselves while blacks who had never experienced slavery first-hand used slavery as an excuse to underachieve. Black Americans could already speak English and were born in a wealthy country, so they had life on easy mode. Even though South Korea is wealthy today, it was poorer than North Korea until the 1970s and the per capita income in South Korea was around $65 per year in the late 1960s. These people came out of slavery and out of poverty, moved to LA and made something of themselves and blacks had every conceivable advantage and head start, blowing every opportunity, resented it.
Interesting, thank you for sharing that. I must admit to not being aware of there slavery. And please I hope your not taking my post as some excuse for the position african americans are in in this country. and blaming someone else. It was certainly not .
Even the old Soviet Union didn’t have this death wish.
Failure to prefix the word “immigration” or “migrant” with the word “illegal” is journalistic malpractice. Sure, there are cases where migration and immigrant are legal but that’s not what is occurring and omission of the adjective is key. Even Mish carefully avoided the elephant in the room. It’s the rampant ILLEGAL immigration that has pressured the U.S. because the border was intentionally opened along with opening the wallets of the U.S. Treasury to provide airline tickets to (swing?) states or unaware citizenry, cell phones, money and dates to appear in court years hence.
Whenver I see immigration without the word illegal in front of it I consider it an affront. Usually it’s intentional by the left but generally expect more of those that aren’t keen to opening the borders far and wide, unchecked.
Absolutely correct. This is one of the signs of a declining civilization.
The cities are doomed because of their leadership. Leave now if you can.
ZH: Scandalous Senate ‘Deal’ Allows 1.5 Million Illegals Per Year, Slides Up To $2.3B To NGOs Trafficking Them,,,
Aiding and abetting an invasion. The American people are under attack by our own government.
ZH: Denver Starts Booting Migrants From Shelters As City Nears ‘Breaking Point
Denver had better get ready for more, as the U.S. Senate doesn’t care about the American people.
I for one would never vote for a bill that allowed 1.5 million illegals to come into the country every year. Even if it meant stopping 10 million. It’s the principle of the thing.
Dow [1M] : if the Dow drops below 30K Trump will welcome it. The Fed might resume its raids, sending the Dow, in a sling shot, to 42K/45K. The Fed will not cut rate, at least not by much, bc it has other tools.
The government won’t be able pay for future expenses.
Unfunded liabilities are about $100T. But the gov’t is taking action, they are assessing a reparations package to add $20T to $120T to that debt. And the cost of the open border is killing many municipalities and states which will go hat in hand to the fed.
The D &R $118B package : $60B to Kiev, $14B to Bibi, the rest to stop the invasion and
support the Palestinians in Gaza. Trump : dead on arrival, cold feet.
Here’s a great overview of the Gaza situation and the vast manipulation of American’s perceptions through the crooked, lying MSM.
link to unz.com
FYI, The article has an audio version which is convient.
So open borders is a government jobs program! FJB! You can’t fix stupid!
It’s bigger than JB. He’s simply an accomplice.
Yes, I know. But he’s the figure head for the oligarchs.
Abbott gets the MVP award for 2023, when it comes to impregnating the USA with more and more immigrants. Why he spends $1,250 per migrant to help them permanently settle in the USA is a mystery, it’s obviously a long term losing game for the GOP, when their real goal is to send them back from whence they came. LOL, you can’t make this stuff up.
So Biden opens the border, Texas tries to close the border, Biden sues to keep the border open … and it’s all Abbott’s fault? You just can’t make this sh– up
Here’s something Abbot will never do: make it a felony to hire illegal immigrants and enforce it with prison.
And the Department of Justice is currently suing Elon Musk because he does not hire illegal alien criminal vermin scum. And New York City’s District Attorney who is suing Donald Trump lets four illegal alien criminal vermin scum who beat up two cops out with no bail. The witch Governor wants them deported. Why not jailed? Can’t do that to real criminals in Kathy Hocul’s empire.
Of course Texas has its own share of wacky politicians.Like the fools in ElmPaso who insist police ask the homosexual pedophiles what their preferred pronoun is before asking them questions.
Chicago is getting Abbott’s message. Why is it that Marth’s Vinyard doesn’t want to share in the bountiful increase in illegal aliens? After all, they are among the ones promoting it.
Martha’s Vineyard – Help Wanted: one chef
White Liberals with NIMBY other than racist white people they are a close 2nd to white people I cannot stand. And I am white so I approve of this message
SPX [1M] reached 5,000 minus 24.71. SPX will not stop unless it gets a real good size stopping action, bc the first one failed, similar to the one in 1998. Blame Bibi.
The mayor of NYC complains that the influx of migrants is destroying the city. Yet he just announced a $53 million program that will give migrants prepaid credit or debit cards that will be reloaded every month. According to the article I read, a family of 4 will get $1000 a month. How do free handouts discourage immigrants from going to NYC? Is Adams brain dead?
Because it’s all political theater and they are thrilled to have more cheap labor and tax generating consumers for their city. Both democrats and republicans are greatly concerned about immigration but neither party does anything about it.
Remember when Trump was going to build a big beautiful wall and have Mexico pay for it? Then nothing happened….well it’s deja vu all over again.
Oh sure there is feigned “outrage” and promises to do something but the only thing that gets done is more feigned outrage.
But don’t worry, there will be some token measures done to show the world that something is being done but that something will be basically nothing. And then both parties will snicker at the rube voters.
Maybe he is lying to the GOP about NYC being destroyed, since they obviously still have plenty of cash to give away. Is he the toreador waving his red scarf at the Abbott bull? I report, you decide.
I just got back from Manhattan. Didn’t see any obvious illegal immigrants. Everyone seemed to have jobs, be working hard and enjoying life. Maybe they’re all in the other boroughs, or the whole thing is way overblown to have an issue for the election.
Oh well……….. I was tired of working anyway.
And almost all goobermint jobs are vastly overpaid and under-productive.
Underproductive is a feature not a bug. Do you really want them doing stuff? Paying them to do nothing would be better for the economy than letting them do things.
And then add public-employee unions into the mix and you have the exemplar of inefficiency and corruption.
The giant wall of retiring boomers also increase demand for these jobs.
So do the after effects of the pandemic.
Big explosion in defense jobs in Huntsville too. It’s becoming a mini D.C. with an excellent economy and quality of life.
Who needs a job when one can get endless government handouts?
Off point anecdote: my wife is visiting her mother in suburban Portland, Oregon, who has lived there since the 1970s. Yesterday in the parking lot of the local grocery store she was approached by an Hispanic woman (did not speak English) and her five-year-old daughter, begging for money. My wife gave them a $20. This has never happened to her before.
Our migrant future.
Watch the movie Falling Down. That 20 will buy ’em 2 Whammy burgers today on the lunch menu you don’t get to have your own way as Portland transforms to L.A. to achieve diversity, inclusion, and fair play. Have a nice day.
San Francisco, Part Deux
I would be so pissed if I found out that my wife did that. We need to make these invaders feel as unwelcome as possible, not encourage them. I know it sounds mean to deny food to a mother and young child, but the message to stop coming has to start with someone.
Just like if you started shooting invaders at the border (after announcements in multiple languages, rubber bullets or high-pressure water first) but eventually shoot to kill if they don’t stop advancing. It sucks to be the first couple guys that get shot but the rest will think twice.
Actually, the wife was being cautious and smart: better to donate 20 then not to and risk returning from shopping to find her tires slashed and flat.
[roflol]
Wife: Honey, I saved us $1000 at the store today!
Husband: Say what? How did you manage that?
Wife: I gave some poor lady and her kid $20 because she might have slashed all our tires if I didn’t and that would have cost us $1000!
Husband: I am so proud of you!
Yeah, 20 is better than a 1000 for funding the broken window’s fallacy.