NATIONAL DATA: In September Jobs Armageddon, Immigrants Gain, Americans Lose; Displacement Hits All-Time High
From VDARE.com Editor Peter Brimelow: Joe Biden’s casual comment about the possibility of a nuclear Armageddon [Joe Biden, At Midterm Fundraiser At Home Of James Murdoch, Talks Of Vladimir Putin’s Nuclear Threat: Biggest Risk Of “Armageddon” Since Cuban Missile Crisis, Deadline, October 5, 2022] got weirdly little attention—but at least it got more than another Armageddon that has already happened: immigrant displacement of American workers, building relentlessly throughout his time in office, has now decisively broken out to an all-time high.
Recently, I’ve been holding back National Data columns until after the inflation data is released mid-month and after the border crossing data (which used to be released early in the month, and has now become ludicrously late, in a blatant effort to minimize coverage). But September’s displacement is too big a story. It means that the Regime Media spin [Unemployment rate falls to 3.5% in September, payrolls rise by 263,000 as job market stays strong, by Jeff Cox, CNBC, October 7, 2022] is no longer a lie: it is a scandal.
The Payroll Survey, released last Friday October 7, showed employers adding 263,000 people to their payrolls in September, down significantly from August’s 315,000 gain, and off massively from the 526,000 hired in July.
We are in a peculiar place where good news in the job market is bad news for stock market investors and the U.S. central bank, because it is thought to imply continued inflation. The jobs slowdown was considered not bad enough. Further Fed rate hikes are now widely expected.
Read the rest at VDARE.com
