326,000 Native-Born Americans Lost Their Job In November: Why This Remains The Most Important Jobs Chart

Article author: 
Tyler Durden
Article publisher: 
Zero Hedge
Article date: 
5 December 2015
Article category: 
Our American Future
Medium
Article Body: 

...We first laid out what that is three months ago when we said that "the one chart that matters more than ever, has little to nothing to do with the Fed's monetary policy, but everything to do with the November 2016 presidential elections in which the topic of immigration, both legal and illegal, is shaping up to be the most rancorous, contentious and divisive."

We were talking about the chart showing the cumulative addition of foreign-born and native-born workers added to US payrolls according to the BLS since December 2007, i.e., since the start of the recession/Second Great Depression.

Curiously, it is precisely this data that got absolutely no mention following yesterday's job report, about which the fawning mainstream media only noted, in passing, one negative aspect to the report: the fact that 319,000 part-time jobs for economic reasons were added in November. However, with Trump and his anti-immigration campaign having just taken the biggest lead in the republican primary race, we are confident that the chart shown below will soon be recognizable to economic and political pundits everywhere.

And here is why we are confident this particular data should have been prominently noted by all experts when dissecting yesterday's job report: according to the BLS' Household Survey, while 375,000 foreign-born workers found jobs in November, a whopping 326,000 native-born Americans lost theirs...

However, the underlying economics of this trend are largely irrelevant: as the presidential primary race hits a crescendo all that will matter is the soundbite that over the past 8 years, 2.7 million foreign-born Americans have found a job compared to only 747,000 native-born. The result is a combustible mess that will lead to serious fireworks during each and every subsequent GOP primary debate, especially if Trump remains solidly in the lead.