If one believes the BLS, US payrolls are now a record high 155.7 million, or 161 million employed workers according to the Household survey. But if one digs a little deeper, one finds something rather peculiar: all of the jobs created since the covid crash have gone to foreign-born workers!That’s right: as shown in the chart below, there are currently 131.1 million native-born US workers, which is down more than half a million from the pre-covid peak of 131.7 million reached in October 2019 (data source: Federal Reserve). Meanwhile, if only looks at the number of foreign-born workers, here the data paints a very different picture: having peaked at 27.8 million in Feb 2019, the number of foreign-born workers has not only recovered its covid crash losses, but has increased by an additional 2.2 million to a record 30.0 million as of April 2023!
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