Breitbart Business Digest: Bidenomics Is Pushing Down Wages by Flooding the Country with Migrants

increased the labor supply

“Labor supply has increased, largely on the supply and participation of immigrants, and an uptick in the participation of prime aged workers between ages 25-54,” said Olu Sonola, Head of U.S. Regional Economics. . Last year, wages rose around six percent, and now they are rising at a five percent annual rate, according to Fitch. Wage growth in the leisure and hospitality space—a prime employer for foreign workers—has declined significantly, Fitch writes.

If we set aside managers and supervisors, the average hourly wage in retail is up 4.1 percent compared with last August. A year ago, these employees were sitting on a 5.7 percent wage gain.lower than it was for most of the last year of the Trump presidencyOpen Borders Does Not Provide Relief from Inflation

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Breitbart Business Digest: Bidenomics Is Creating a Debt-Inflation SpiralThe Biden administration's deficit spending has become a big part of the inflation problem.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Breitbart Business Digest: Services Sector Shrugs Off Recession TalkThe idea that economic growth is faltering received another blow on Wednesday when the Institute for Supply Management reported that the services sector expanded for the eighth straight month in August.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Business Highlights: Victoria's Secret aims for more inclusive catwalk; Maui beckons back touristsBusiness Highlights: A summary of the day’s top stories in the business world.
Source: AP - 🏆 728. / 51 Read more »