3 ms·

It's unusual: https://www.cnbc.com/2024/08/21/us-job-growth-revised-down-by-the-most-since-2009-why-this-time-is-different.html https://www.cnbc.com/2024/08/21/

It's unusual: https://www.cnbc.com/2024/08/21/us-job-growth-revised-down-by-the-most-since-2009-why-this-time-is-different.html https://www.cnbc.com/2024/08/21/us-job-growth-revised-down-b... Also unusual is the study pacing of the downward revisions which has been going on during the current administration. I believe I read somewhere that there have been more negative revisions in a row under Biden than any previous president. People who follow job State and know that the numbers were messed up because the household survey shows quite a different story. You can also add into the swelter of government data that most of the jobs created since 2019 have gone to foreign-born people. I don't have anything against people not born in America having a job, I just find it suspect that they are driving out American job seekers so handily.

mc32 2y ago
The main job of a government is to look after those people who elected it -its constituency. If there is a deficit of job seekers, then by all means, import the labor, but the government should not allow foreign workers to undermine its own constituency. I mean, unless, we get something in return from the foreign governments --I don't mean cheaper clothing or cheaper labor. If we went all the way for that, we'd reach a global equilibrium where everyone would earn $1/hr --I doubt anyone but foreigners earning less than a $1 per hour would want that, but you never know, some people do go against their own self interest.
- John_Cena 2y ago
  It is trivial to make the case that you need to import your labor in the tech sector. They are incentivized to hire outside since the visa/h1b stipulations make their new worker a step above an indentured worker. The incentives for corporations are misaligned with the constituency as well, and from my perspective they work together to rule in the modern day. A corporation can run away from a country they created, a citizen cannot do so as readily.
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mc32 2y ago

The main job of a government is to look after those people who elected it -its constituency. If there is a deficit of job seekers, then by all means, import the labor, but the government should not allow foreign workers to undermine its own constituency. I mean, unless, we get something in return from the foreign governments --I don't mean cheaper clothing or cheaper labor. If we went all the way for that, we'd reach a global equilibrium where everyone would earn $1/hr --I doubt anyone but foreigners earning less than a $1 per hour would want that, but you never know, some people do go against their own self interest.

John_Cena 2y ago
It is trivial to make the case that you need to import your labor in the tech sector. They are incentivized to hire outside since the visa/h1b stipulations make their new worker a step above an indentured worker. The incentives for corporations are misaligned with the constituency as well, and from my perspective they work together to rule in the modern day. A corporation can run away from a country they created, a citizen cannot do so as readily.

deleted 2y ago

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