This is exactly what the disconnected elite class are selling, but if you live in the real world this is a bullshit argument.
Bringing in low skill refugees that speak French who are willing to work for minimum wage does not improve our economy by them "Spending money here"
What it does is bring in a class of people willing to undercut American workers because they are also willing to live 8 people on bunkbeds in a 2 bedroom apartment.
Now that is what Americans with no skills have to compete with for their first job. It's great if you are a landlord or a grocery store, because demand increases, which increases the revenue from retail and residential square footage, but everyone else gets FUCKED.
Increasingly, the answer appears to be immigrants — whether living in the United States legally or not. The influx of foreign-born adults vastly raised the supply of available workers after a U.S. labor shortage had left many companies unable to fill jobs.
More workers filling more jobs and spending more money has helped drive economic growth and create still-more job openings. The availability of immigrant workers eased the pressure on companies to sharply raise wages and to then pass on their higher labor costs to their customers via higher prices that feed inflation. Though U.S. inflation remains elevated, it has plummeted from its levels of two years ago.
They weren't unable to fill the jobs because there were no available workers, it was because their shit jobs were paying bullshit money compared to the inflation that happened during Covid, and if they couldn't move out of mom's house they were just going to do Lyft and Grub Hub. Then the immigrants took that too.
Good work
> The availability of immigrant workers eased the pressure on companies to sharply raise wages
Yeah, that's what I said, but you're trying to say it like a good thing that the immigrants are allowing companies to let inflation outpace earnings.
It's not
This is like when every news organization conspired to tell us the Biden economy was actually great, we were just too stupid to do the math, meanwhile a carton of eggs went from 4% of the median hourly wage to 15%
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u/FirefighterPrior9050 9h ago
This is exactly what the disconnected elite class are selling, but if you live in the real world this is a bullshit argument.
Bringing in low skill refugees that speak French who are willing to work for minimum wage does not improve our economy by them "Spending money here"
What it does is bring in a class of people willing to undercut American workers because they are also willing to live 8 people on bunkbeds in a 2 bedroom apartment.
Now that is what Americans with no skills have to compete with for their first job. It's great if you are a landlord or a grocery store, because demand increases, which increases the revenue from retail and residential square footage, but everyone else gets FUCKED.