Analysts hoped that the May Bureau of Labor Statistics report would show job creation at 164,000. Instead, BLS reported only a feeble 38,000 new jobs. Save for slight employment upticks in health care and professional services, many of them part-time positions, the BLS data was bad.
Better paying, blue-collar jobs in construction and manufacturing declined by about 33,000. The civilian labor force participation rate decreased by 0.2 percentage point to 62.6 percent as more than 450,000 workers left the labor market in May. People not in the labor force hit a record 94.7 million, 600,000 more than April’s figure.
The number of workers who would like full-time employment, but can find only part-time positions, increased by nearly half a million to 6.4 million. The artificially low 4.7 percent unemployment rate fools no one. Finally, as if the May report is not grim enough, March and April job growth was revised downward from, respectively, 208,000 and 186,000 to 160,000 and 123,000.
Couple the irreversible trend toward automation – “whether you like it or not,” as Rensi put it – with staggering, unsustainable immigration increases, and American workers are under siege.
According to Census Bureau data, legal and illegal immigration increased by 3.1 million, a 39 percent increase during the last two years. Temporary and permanent legal immigrants – all work-authorized – grew from 1.6 million in 2012-2013 to 2 million in 2014-2015. During the same period, the illegal immigrant population, many of whom work off the books, increased from 1.6 million to 2 million.