A recent economic report has shed new light on the surprising trend in the US job market, revealing that a surge in immigration in 2022 and 2023 may have contributed more than initially thought. The report found that the number of native-born Americans with jobs may actually have risen, not declined, in 2024.
For years, economists have been puzzled by why rapid hiring and a tightening labor market failed to worsen already-high inflation. However, new data suggests that government bean-counters may have missed the massive surge in immigration during this time, which raised the supply of workers in the labor force.
This revelation has significant implications for understanding the current state of the US economy. As the job market continues to evolve, it will be essential to accurately account for demographic changes and their impact on employment trends.
Source: https://www.marketwatch.com/story/the-u-s-jobs-report-missed-the-immigration-surge-now-its-catchup-time-db1b7d30