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

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Bidenonomics is putting downward pressure on American wages by increasing the labor supply through Joe Biden's open border policies.

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

 

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