Topic: Employment Statistics

Federal Reserve Chairman Jerome Powell signaled a shift toward lowering interest rates during a meeting in Jackson Hole to address a national housing emergency. Dr. Kirk Elliott predicts a 25 to 50 basis point reduction on September 17th to stimulate employment. The Bureau of Labor Statistics is criticized for consistently revising employment numbers downward after initial reports.

Citing a Zero Hedge report, Smith notes that 1.3 million native-born Americans lost jobs while 635,000 immigrants gained them since the pandemic. He discusses the situation in Springfield, Ohio, where Haitian migrants were brought in to provide cheap labor. Statistics suggest that the U.S. has created zero net jobs for native-born workers in the last six years, while foreign-born employment has risen by 5 million.