NATIONAL DATA: December Jobs Stall—And Immigrant Workforce Population Growth Tops 1 Million For Fourth Straight Month | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

NATIONAL DATA: December Jobs Stall—And Immigrant Workforce Population Growth Tops 1 Million For Fourth Straight Month

America’s hiring slowdown continued in December. Businesses added 199,000 workers, the smallest gain of the year, according to the widely-cited Survey of Employer Payrolls. This was overwhelmed by the Immigrant Workforce Population growth (1.2 million year-over-year). Biden seized on wage growth , again ignoring that wage growth is negative when adjusted for inflation [Biden touts strong December wage increases, brushes off weak job growth, By Christina Wilkie, CNBC, January 7, 2022].

But despite the miss on headlines, the seasonally adjusted unemployment rate improved more than expected to 3.9%—the best level since February 2020’s 50-year low of 3.5%.

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