August jobs report shows job losses for US-born workers, gains for foreign-born
US economy added 142,000 jobs in August
A U.S. jobs report shows 142,000 jobs were added in August; this comes two weeks before a key Federal Reserve meeting to set interest rates. Jason Sorens, a senior research fellow at the American Institute for Economic Research joins LiveNOW's Andrew Craft to help us make sense of this.
LOS ANGELES - The latest data from the Bureau of Labor Statistics shows a significant divergence in employment trends between native-born Americans and foreign-born workers over the past 12 months.
According to the August jobs report, reported by FOX Business, U.S.-born workers lost more than 1.3 million jobs, while foreign-born workers gained over 1.2 million jobs during the same period.
READ MORE: US economy adds 142,000 jobs as unemployment rate falls slightly, Dept. of Labor reports
As of August, there are 129.7 million native-born workers, down from 131 million in August 2023. In contrast, foreign-born workers saw their employment numbers rise to 31.6 million from 30.4 million a year ago. These figures highlight the contrasting employment paths for these two groups.
Immigration and job trends
The jobs report comes amid a period of increased immigration under the Biden-Harris administration. Data from the Congressional Budget Office (CBO) reveals that more than 9 million immigrants have entered the U.S. since the end of 2020, with about 2.6 million entering through lawful channels. The remaining 6.5 million are individuals who crossed the border without prior authorization.
The jobs report does not distinguish between foreign-born workers who entered the U.S. legally and those without authorization. However, the surge in foreign-born workers gaining jobs underscores their growing presence in the workforce.
Job growth in August misses expectations
U.S. job growth picked up in August but failed to meet economists’ expectations. Employers added 142,000 jobs, short of the 160,000 projected by LSEG economists. The unemployment rate dipped slightly to 4.2%, after rising unexpectedly to 4.3% in July, the highest rate since October 2021.
Notably, multiple jobholders increased by 65,000, and the number of part-time workers surged by 527,000, while full-time workers saw a decline of 438,000. Sectors like construction saw gains, adding 34,000 jobs, while health care added 31,000 jobs, lower than its 12-month average.
Biden's border policies in direct conflict?
President Biden toughened his stance on border security after immigration has emerged as top issue. Biden also announced a legalization program for immigrants who are married to U.S. Citizens. LiveNOW from FOX's Stephanie Coueignoux spoke with Former Supervisory Special Agent with ICE, Victor Avila, to discuss the latest.
Economic implications of shifting job numbers
The shift in employment for U.S.-born and foreign-born workers raises questions about the broader economic implications. The significant job gains among foreign-born workers, paired with job losses for U.S.-born individuals, could fuel ongoing debates about immigration policies and their impact on the labor market. Meanwhile, the modest job growth and revision of previous months’ data signal continued challenges in the U.S. labor market.
As the economy continues to navigate these dynamics, the trends in employment among different demographic groups will likely play a crucial role in shaping policy decisions.