Friday, April 5, 2024

Fed Chair Jerome Powell Comedy Hour: All those hordes of illegals coming across the border the last two years have been filling the jobs employers couldn't fill, making the economy grow 3%

 The laughs are here:

Fed Chair Jerome Powell: Immigration The Reason Why The Economy Grew 3% In A Year, "We've Needed More People":

Our economy has been short labor and probably still is if you talk to and we do talk to a lot of business people, it is still difficult to hire for many, many companies. So we've needed more people. But what happened over the course of last year is to a much greater extent than had been thought. Immigration moved up quite a bit over the last two years.     

 Meanwhile, full time as a percentage of civilian population DROPPED year over year in the first quarter, according to the employment numbers out today, from 49.7% in 1Q2023 to 49.2% in 1Q2024.