If you aren’t on X — or Twitter, if you insist on deadnaming it — you will often be surprised to learn about the kinds of things people are arguing about on that platform. In many cases, the debates do not resemble anything that anyone outside of the site is talking about. These debates are often insular and parochial. Groups of people will get into heated disputes that last sometimes for weeks or months or longer, and yet which have no relevance beyond the confines of the platform itself.
I’ll give just one example of millions. Among Right-wingers on X, there has been a long running and quite tedious quarrel over the term “Woke Right.” Various groups of conservatives are accusing each other of being “Woke Right,” as they debate what the term means, and whether it describes anything real. I don’t know where this “Woke Right” idea comes from, but I do know that I’ve never heard a single soul in the three dimensional, physical world ever use the phrase or express any opinion on it one way or another. There are relatively prominent conservatives on X who have spent months locked in combat over a concept that has no real political or cultural relevance whatsoever. Nobody cares about it but them. Needless to say, there are a great many examples of this sort of thing. And even less do I need to say that I have myself been guilty of arguing about things on X that nobody outside of the app cares about. I might even sometimes be the one starting the argument, admittedly.
However, not every debate on X is so trivial. Sometimes the conversation is relevant beyond social media. Sometimes it reflects what’s actually happening in the world. Sometimes — more often now in the Elon era — a debate on X is actually important. And this week there has been one of those kinds of arguments — another round of it, anyway, as this has been a long running dispute. It’s important enough to write about here. And it will lead me to a very crucial point that I want to make, especially for younger people.
The debate revolves around the economic situation that young people in particular are facing today. One side of the argument says that although it is a challenging landscape for young people who are just starting out in the world, the best thing they can do is get an entry level job somewhere and work their way up in the world from that starting point. The other side says that this “bootstraps” mentality is obsolete. Young people have been totally screwed. They can’t just get a job and work their way up. And, they say, telling a young person to go work some low paying customer service job is insulting and out of touch. The game is rigged. American jobs are being stolen en masse by foreigners. The American dream, says this side of the debate, is effectively dead. Therefore the old school “go out there and work your way up the ladder” approach is simply to antiquated to be useful.
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As you already guessed, out of the two camps, I tend to fall more into the former. Although the latter camp isn’t wrong about many of the fundamental points they’re making about the system as it&#8217;s currently constructed. I’ll get into that in a moment. 
First, let’s take a look at how this exchange is playing out. I think the debate may be best encapsulated by this. <a href="https://www.dailywire.com/topic/christopher-rufo">Chris Rufo</a>, in a series of tweets a couple of days ago, <a href="https://x.com/realchrisrufo/status/1878855931318198421" target="_blank" rel="noopener">wrote the following</a>:
<blockquote>Every generation has challenges. We currently have huge problems with the cost of housing and a splintering culture, but the economy is strong, incomes have never been higher, trades are hiring apprentices straight out of high school, and tech has enabled a wave of entrepreneurship and high-income &#8220;email jobs&#8221; from anywhere on Earth. We should remember that the Boomers, whatever their faults, had to make their way in a much poorer America and had to navigate war, stagflation, recession, and high interest rates. It&#8217;s never a cakewalk. We should work to provide opportunity for our kids, but should also remind them to be grateful for the opportunities they have. I didn&#8217;t make $50,000 a year or own a car until I was 30, then, after years of struggle in a creative field, things paid off. I could live in Seattle or New York or DC, but choose to live in a small town. It&#8217;s all a tradeoff, and one can make a good life in almost any metro area in the US.</blockquote>
In a follow up, he posted a job listing from Panda Express:
<blockquote>This is basically &#8220;full employment.&#8221; The Panda Express near my house is offering $70k/yr plus benefits for the assistant manager. You can make $100k/yr working at Chipotle for a few years and working up to store manager.</blockquote>
A prominent account that goes by the handle &#8220;Bronze Age Pervert&#8221; responded in a way that I think captures the general attitude of the other side of this argument. 
He wrote:
<blockquote>This is an absurd thing to post. This environment is the worst in decades and maybe ever in America to build wealth through any normal career. It’s the worst work environment and worst prospects for wealth accumulation ever. For a young person it’s next to impossible in fact even with the best degrees and “elite” job. It’s absurd and a joke to see conservative pundits, who work as writers and commentators in media and aren’t frankly exemplars of Protestant capitalist enterprise recommend working at Chipotle and UPS for a few smart young right wing men who are deploring decades-long trends. Maybe you’ll care to also give them advice on manning up and marrying a local sweet girl/highschool sweetheart.</blockquote>
The debate spiraled from there. A writer named Aaron McIntyre agrees with Bronze Age Pervert. He posted: 
<blockquote>If you are worried about Andrew Tate&#8217;s influence on young men telling them to climb the fast food ladder probably isn&#8217;t the move.</blockquote>
Another commentator named Scott Greer chimes in with a similar sentiment: 
<blockquote>Conservatives wonder why young men turn to Andrew Tate when they tell the same demographic to be content with fast food work and marrying much-older single moms.</blockquote>
Someone else gave his perspective. He said that it is possible for a young person to get started and succeed even in this tough environment. He offered the example of his own 22-year-old son, who he said has a job at UPS making $70,000 a year. He’s about to marry his girlfriend who is ten years older.
To that, someone else, in a post that has 27,000 likes, said: 
<blockquote>Poor kid is grinding, about to marry a 32 year old, living in his dad’s basement, stuck in a dead end job. He will likely never have kids or own a home. Imagine how out of touch you have to be to post this proudly. This is losing. But boomer dad imagines everything is ok.</blockquote>
Mike Cernovich is on the other side. What we might call the bootstraps camp. He thinks — and so do I — that work is not supposed to be fun. It’s not even necessarily going to be fulfilling. But you have to do it because that’s life and always has been. He wrote: 
<blockquote>You’re supposed to hate your job. That’s why it’s a job. Someone pays you because they don’t want to do it. Most of us had s*** jobs. It’s nothing special. You’re not a snowflake. Fight Club and Office Space covered this decades ago. Work sucks. This isn’t new.</blockquote>
But it’s this reply to that post that I think best captures the essence — and the fatal flaw — in the, I guess, anti-bootstraps position. Someone responded: 
<blockquote>The reason why jobs were worth it is that you could afford a home in a nice high trust society and support a family. Why do it now? I will not be reduced to an f-ing serf.</blockquote>
Jobs are not worth it, he says. Jobs make you a serf. This is why it’s worth talking about this very online controversy. It’s not just online. It seems clear to me that a lot of demoralized young people feel exactly this way. They think jobs aren’t worth it. There’s no point in even trying. They have it harder than anyone has ever had it. It’s hopeless. Everything is unfair. And so on. 
These young people are being encouraged down this hopeless road by people who are considered intellectuals on the right, like Bronze Age Pervert, who we recall said that today’s work environment is the worst ever — the worst ever, in history — and that it is “next to impossible” to become successful and accumulate wealth. They’re told by these supposed thought leaders that they should ignore anyone who even suggests that they start off in a low paying job working customer service or something similar. And a lot of young people — especially young men — have heeded this advice, to their own detriment.
So here’s what I want to say, after this very long preamble where I unfortunately had to give you a blow by blow account of a Twitter war. I acknowledge that young people face serious challenges starting out in the workforce. I can clearly see and do not deny that it is harder than it should be for a young man to get into a stable career, buy a house, and start a family. I agree that we are importing foreigners to take American jobs. That is hideously evil and unfair. I am in favor of any policy that puts an end to that scam. I agree with the anti-bootstrappers on that point. They will hear no argument from me.
Okay. Once we’ve agreed on that, what then? What is a young adult supposed to actually do tomorrow? This is the question that matters. It’s the question that, in these kinds of conversations, most people just skip over. It reminds me of my frequent debates with the Red Pillers and Manosphere where they declare that the dating scene is a disaster and young men have no hope of meeting a quality woman and building a stable family. My question to them is always the same: What do you want these young men to do then? What do you want them to actually do with their lives? Give up and die alone? What do you want them to do?
I ask that here as well: What should they do tomorrow? I’m not asking what the president should do or what congress should do or what government agencies should do. I’m asking what the actual individual human beings we’re talking about here — the newly minted young adults — should do. They will wake up in the morning and brush their teeth and eat breakfast — and then what? That young man who is 22-years-old and has no job. If you believe it is deeply insulting to suggest that he should go apply at Panda Express or UPS, what do you want him to do instead? What do you recommend? What is your plan?
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Complaining about it incessantly on Twitter is not a plan. Calling for policy solutions is fine and I agree that we should work on those. But what about tomorrow? What is the demoralized young person supposed to actually do in his life tomorrow? Don’t deflect. Don’t tell me about the H1-B program. I think we should abolish it. I don’t want to import any foreign labor at all. But a young man who wakes up in the morning can’t abolish the H1-B program. That’s not something he can accomplish tomorrow. So what should he do? Should he post about abolishing it? Fine. That takes about 60 seconds. Let’s give him 30 minutes for a series of tweets about H1-B visas. Okay. What next? How&#8217;s he spending the rest of his day? If you have no answer to that question, then your contribution to this conversation is worthless. You have nothing of value to offer to this young man.
Here’s what I say. I say that he must get up onto his feet in spite of it all and begin to pursue his goals one small step at a time. He must get the best job he possibly can, which will almost certainly not be a very good job or a very fun job. But he is not in a position where he can afford to worry about what is fun. He has to work as hard as he can to achieve what he can. He must gain experience and establish himself. And if he’s just starting out in the world, the best job is whatever job he can get. You have to start somewhere. And a job is better than no job.
He has a difficult road. Every young man in his position throughout the entire history of the Earth has had a difficult road. Life itself is a difficult road. Is his road more difficult than the road that young men of my generation had to walk? Perhaps. I entered adult life right around the time of a great recession and housing market collapse. It wasn’t exactly an easy path. I worked many awful customer service jobs that I hated with every fiber of my being. My hatred of them fueled me even more. I was more determined to become successful so that I would never again have to work the kind of job where you wear a name tag and get paid by the hour. But I had to work those jobs in order to get to a point where I didn’t have to work those jobs. That’s how it goes. So I am not recommending that anyone do anything that I have not already done. Is it harder now? Maybe. Is it harder than it was for the Boomers when they were just starting out? Probably, although I think the comparison is overstated.
Is it the hardest ever? Is a young person in America today facing “next to impossible odds” and unprecedented hardship? Of course not. That is an absurd suggestion. If you are a 22-year-old man today, you may have it a bit harder than your parents and grandparents, but that is as far as it even theoretically goes. World history did not begin in 1955. No matter what, you and I and our parents all had it and have it easier than the vast majority of human beings who have ever existed on the planet. We are all in the top 1% of the easiest lives ever lived. Which is why, even with all of our problems, you wouldn’t want to live anywhere else on the planet today. And if you had a time machine, the farthest you might want to go back is the middle of the 20th century and no farther. And if you did go back even that far, you would almost certainly discover that it was not the cakewalk you imagine it to be.
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None of this diminishes the difficulties that you, as a young person, are currently experiencing. I only mean to put it in context. The context is important. Because if you think that nobody has ever had it harder than you, you may be justified in wondering whether success is simply impossible in your case. After all, no one has ever succeeded against odds so great as what you are facing. But the point is that many millions of people have succeeded against odds many times greater. This should inspire you, not offend you. Either way, my message to the young man is that he has to get up and walk. Even if he did have the hardest life anyone has ever lived on this or any other planet. Still I would say, well then, get up and move forward. What else are you going to do? Lie down and die?
My attitude is condemned by some Right-wingers whose doomerism has now descended to a point where they will call you a traitor for suggesting that a young man has any agency at all in his life. They want to hear nothing but misery porn and hopelessness. Anything else makes you a Boomer cuck. That’s because they don’t actually give the slightest damn about the young people they pretend to be speaking for.
Instead we end up with the “solution” (which I’ve seen repeated in different forms countless times) offered by the commenter I mentioned earlier. Jobs aren’t “worth it,” he says. He will not be a serf. Instead he will, presumably, live off of the government or his parents. But here’s the problem: that’s not how you escape being a serf. That’s how you become one. You are volunteering for a life of failure and servitude. Working at Panda Express is beneath you, but to eat it for lunch on your dad’s dime because you refuse to support yourself is not beneath you?
That makes no sense.
So again I ask: what is your plan? What are you going to do tomorrow? Some people like to mock the “bootstraps” mentality but they have given young people precisely zero alternatives. They have not given them any idea of what they should do tomorrow. And to me that is the most important and useful question here. What should you do tomorrow? My answer is simple. Tomorrow you should get up, put on your shoes, and get started.

North Carolina Works Job And Resource Fair Ahead Of Initial Jobless Claims

The Real Crisis Young Men Are Facing Today

employment

Gen Z

Inflation

male

Matt Walsh

Opinion

Social Media

Twitter

Unemployment

Woke Culture

Work environment

Just weeks before Election Day, the number of Americans applying for unemployment benefits has increased to the highest level in more than a year.
In <a href="https://www.dol.gov/sites/dolgov/files/OPA/newsreleases/ui-claims/20242123.pdf" target="_blank" rel="noopener">a news release</a> on Thursday, the U.S. Department of Labor announced that, for the week ending October 5, there were 258,000 jobless claims, up 33,000 from the previous week’s 225,000 claims. This is the highest number of jobless claims since the week of August 5, 2023.
The Associated Press <a href="https://apnews.com/article/unemployment-benefits-jobless-claims-layoffs-labor-669ecbeed289ec3971f021c02a99b669" target="_blank" rel="noopener">spoke</a> to analysts who blamed the increase on Hurricane Helene, but a Daily Wire review of the initial claims filed for the past week shows that is not the whole story.
North Carolina, which suffered the most under Hurricane Helene, saw a 290% increase in jobless claims – 8,534 more than the previous week. While North Carolina saw the largest percentage jump, Michigan – which was unaffected by Helene – also saw a large percentage increase of 140%, and had the highest single jump in jobless claims at 9,490. California, which was also not affected by the hurricane, had the third highest increase in claims at 4,484.
Florida, South Carolina, and Tennessee, which were also damaged by Helene, saw a 69%, 83%, and 72% increase in jobless claims, respectively. Kentucky also had a large percentage increase (146%) due to damage from the hurricane, though its effects have not been extensively covered by the media. Alabama and Georgia, which were also hit by Hurricane Helene, each saw fewer than 1,000 new jobless claims.
The increase from those states affected by the hurricane only adds up to 18,210 new claims – or a little more than half of the rise in applications for unemployment benefits filed last week. In fact, 43 states saw an increase in jobless claims in the past week, while only a handful of states were affected by Hurricane Helene.
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Another factor the AP noted was the continuous effect of high interest rates on the labor market. Between 2022 and 2023, the Federal Reserve hiked interest rates repeatedly until the federal funds rate hit a two-decade high of 5.3%. This pushed mortgage rates up to 8%, making the housing market crisis worse for buyers and having little to no effect on inflation. The Fed has recently started lowering interest rates, reducing it by half a percentage point last month.
According to the AP, the Fed’s goal is to bring down inflation without causing a recession, even though many Americans are struggling to pay bills now.
The federal government on Thursday also reported that inflation has reached its lowest point since February 2021, just after President Joe Biden took office, the Associated Press <a href="https://apnews.com/article/inflation-prices-interest-rates-economy-federal-reserve-cd6d9712bfd484d6e1bc4ccb958dcf23" target="_blank" rel="noopener">reported</a>. What that actually means is that inflation is still rising, but rose slower than it has in three years. Inflation rose by 2.4% last month from a year earlier, which was the smallest annual increase since February 2021. So, while the media may report that inflation is going down, prices are still rising.

Help Wanted

Unemployment Claims Surge To Highest Level In A Year As Election Day Looms

2024 Election

Economy

Jobs

U.S.

In order to ensure Kamala Harris’ victory in 2024, there has to be some sort of outsized force that propels her to it. But the problem for Harris is that there aren&#8217;t going to be more debates where points are teed up for her.
If something bad happens in the world, that cuts against the Biden-Harris administration. If a large-scale war breaks out in the Middle East right now, that&#8217;s not going to cut against former President Trump; it&#8217;s going to cut against Biden-Harris because she&#8217;s the vice president who failed to prevent it.
If there&#8217;s an economic collapse, that cuts against Harris. If there&#8217;s any piece of really bad data in the country right now, it cuts against the incumbent.
But there is one piece of news that could be released and manipulated in order to try and help Harris.
And it happened on Wednesday.
The Wall Street Journal <a href="https://www.wsj.com/economy/central-banking/fed-cuts-rates-by-half-percentage-point-03566d82" target="_blank" rel="noopener">reported</a>:
<blockquote>​The Federal Reserve voted to lower interest rates by a half-percentage point, opting for a bolder start in making its first reduction since 2020. 
Eleven of 12 Fed voters backed the cut, which brings the benchmark federal-funds rate to a range between 4.75% and 5%. Quarterly projections released Wednesday showed a narrow majority of officials penciled in cuts that would lower rates by at least a quarter-point each at meetings in November and December.</blockquote>
They&#8217;re going to start cutting, and they want a hard cut. The problem with a hard cut is that, first, inflation has not gone down all the way to the 2% number the Federal Reserve typically looks for, and, second, the economy is still pretty hot, meaning that unemployment numbers are still not radically up.
So what are they doing? They&#8217;re injecting more money into an economy that actually is not flagging enough to justify that size of a cut. The case for a 25-basis point cut could be made. You could say we need to gradually inject more money into the economy.
But interest rates should be free-flowing and not manipulated by the Federal Reserve at all. It&#8217;s ridiculous that we have a centralized government agency that decides how much your dollar is worth based on a dual mission of reducing unemployment and keeping inflation down. The free market should decide exactly how interest rates float, and sometimes the interest rates need to go up in order to clean out bubbles.
When that doesn&#8217;t happen, bubbles end up growing, and then eventually, the bubbles burst.
The Journal continues:
<blockquote>The Fed governor Michelle Bowman dissented against Wednesday’s decision in favor of a smaller, quarter-point cut. Bowman, who was appointed to the board by Donald Trump in 2018, became the first governor to dissent against an interest-rate decision since 2005. It was the first dissent by any voter on the rate-setting committee since June 2022.
The Fed rate cut marks just the sixth time in the past 30 years that the central bank switched from raising to lowering rates. Usually when the Fed starts cutting rates, it doesn’t know whether it will make a handful of small moves—as it did in 1995 and 1998, when the economy avoided a downturn—or whether it is the start of a longer series of reductions, as in 2001 and 2007, when the central bank cut rates a few months before the economy entered recession.</blockquote>
So, they&#8217;re going to start lowering the interest rates again. There are a few reasons for this. One is the United States government is borrowing money at such an unbelievable clip right now that to leave those interest rates up would ratchet up the interest payments on the national debt. In order to correct for the vast national debt we are piling up, they&#8217;re lowering the interest rates so we don&#8217;t have to pay people back at as high rates. That&#8217;s a major factor.
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Another factor is supposed to be that the economy is slowing so much we need to inject a fresh round of capital.
But let&#8217;s be real about this: Capital has not dried up in the American economy. That is why the stock market is currently riding precisely where it is. Just days ago, the price-to-earnings ratio (which assesses whether a stock is over- or under-valued) for the Dow Jones Industrial Average was riding at 31. The average PE ratio for the Dow over the past three years is 20.
That&#8217;s insane. That means stocks are overvalued. That means there&#8217;s quite a lot of money in the system that is being thrown at the stock market because people don&#8217;t know what to do with the money. Investors are getting a fresh infusion of cash in their pocket, and they&#8217;re immediately planting it where they think it will possibly earn a return. Stocks would be one place. They&#8217;re presumably going to do the same in real estate.
The problem is that the interest rates in real estate remain higher than they were five or six years ago. So even if you want to trade a house for a different house, that now means you&#8217;re giving up a 3.5% interest rate for a 6% interest rate on your mortgage, which costs you a lot more money.
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So what is the cut designed to do? Making a 50-basis point cut signals two things at the same time. First, it signals the economy is on the verge of a downturn. That&#8217;s the reasoning for cutting it 50-basis points as opposed to 25. But second, a 50-basis point cut simultaneously signals that the worries about inflation are over, which means the economy is strong and solid. Obviously, these two things are in conflict with one another.
Jerome Powell of the Federal Reserve tried to justify this. He said the Fed’s “patient approach” has paid dividends.
If by “patient approach,” he means increasing the prices of everything over the past three and a half years by roughly 20%, then well done, Jerome. Don&#8217;t strain your shoulder patting yourself on the back too hard. 
The <a href="https://www.nytimes.com/2024/09/19/business/economy/inflation-interest-rates-effects.html">New York Times</a> reported: 
<blockquote>People with jobs have started showing up at homeless shelters in Atlanta. Families who can’t cover their grocery bills are pushing up demand at a Boston food bank. A dearth of available houses is plaguing Sacramento. Yet reports of recent raises abound, and a partly retired homeowner near Pittsburgh is happy about his savings.
America’s bout of painfully high inflation — and the period of high interest rates meant to cure it — is finally drawing toward a close. Price increases are nearly back to a normal pace, so much so that the Federal Reserve voted on Wednesday to lower borrowing costs for the first time in more than four years.
But even as the nation’s tumultuous pandemic economic era begins to approach its end, the period is destined to leave lingering marks.</blockquote>
The Federal Reserve does not want Donald Trump in office. They clearly would like to see Harris elected.
So what is the cut really about?
What it&#8217;s about is trying to generate an ersatz feeling of good momentum on the economy, despite the fact the Business Roundtable CEO Economic Outlook Index suggests the job market is slowing.
Is it slowing, or is it solid? We don&#8217;t know. Jerome Powell won&#8217;t tell us. Is inflation conquered, or is it just coming down? We don&#8217;t know. He won&#8217;t tell us.
While White House Press Secretary Karine Jean-Pierre has the nerve to suggest the White House is completely independent of the Federal Reserve, have you noticed that every major Democrat in the Senate has been calling for a lowering of interest rates for the last year and a half in an attempt to artificially jog the economy?
* * *
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US-ECONOMY-FED-POWELL

The Federal Reserve Rides To Kamala’s Rescue

Ben Shapiro

Dow Jones

Federal Reserve

Interest Rates

Jerome Powell

Kamala Harris

Mortgages

Fewer jobs were added to the U.S. economy in August than expected, while unemployment slightly decreased from July, according to the most recent report from the Bureau of Labor Statistics released on Friday. 
The data indicates that 142,000 jobs were added last month, about 20,000 less than the 161,000 economists had <a href="https://www.cnbc.com/2024/09/06/jobs-report-august-2024.html" target="_blank" rel="noopener">expected</a>. Unemployment declined from 4.3% in July, the <a href="https://www.dailywire.com/news/unemployment-rate-reaches-highest-point-in-nearly-3-years" target="_blank" rel="noopener">highest</a> since October 2021, to 4.2% in August. 
According to the report, the two largest sectors for growth last month were construction and healthcare, which added 34,000 and 31,000 jobs, respectively. The labor force participation rate is 62.7%, which is about the same as last year. 
“The number of people employed part time for economic reasons was little changed at 4.8 million in August,” the <a href="https://www.bls.gov/news.release/empsit.nr0.htm" target="_blank" rel="noopener">report</a> said. “This measure is up from 4.2 million a year earlier. These individuals would have preferred full-time employment but were working part time because their hours had been reduced or they were unable to find full-time jobs.”
The Bureau of Labor Statistics has consistently revised job creation numbers downward over the last few months, including drops of 25,000 in July and 61,000 in June. Last month, it revealed that for the year that ran from April 2023 to March 2024, the bureau <a href="https://www.dailywire.com/news/labor-dept-overestimated-job-growth-by-more-than-800k-revises-data" target="_blank" rel="noopener">overestimated</a> the number of jobs created by 818,000. 
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Some economists said the report suggested that the economy is still struggling as fears of a recession prompted global markets to <a href="https://www.dailywire.com/news/dow-drops-more-than-1000-points-as-global-markets-plunge-amid-recession-fears" target="_blank" rel="noopener">plunge</a> last month. 
Analyzing the report, Heritage Foundation economist E.J. Antoni <a href="https://x.com/RealEJAntoni/status/1832038872726819243" target="_blank" rel="noopener">noted</a> that the economy was losing higher-paying jobs while adding part-time jobs. 
“All of the net job growth in Aug was part-time employment (+527k), while full-time jobs plummeted (-438k); we&#8217;re hemorrhaging higher-paying jobs w/ benefits and replacing them with multiple part-time ones &#8211; these higher payroll numbers are a sign of impoverishment, not growth,” he said. 
Alfredo Ortiz, CEO of Job Creators Network, <a href="https://www.jobcreatorsnetwork.com/press_releases/job-creators-network-responds-to-august-jobs-report/">said</a> the report “reveals accelerating weakness in the American economy.”
“Job creation was below expectations, and half of new positions were created in the unproductive government or quasi-government healthcare and social services sector,” he added. &#8220;A record 8.2 million Americans have second jobs. Prior months’ job creation was significantly revised down – again. So far this year, the number of unemployed Americans has increased by one million.”
RELATED: <a href="https://www.dailywire.com/news/labor-dept-overestimated-job-growth-by-more-than-800k-revises-data">Labor Dept Oversestimated Job Growth By More Than 800K, Revises Data</a>

New Home Sales Fall For Second Month As Mortgage Rates Rise

August Jobs Report Falls Short Of Expectations As More Americans Take Part-Time Jobs

Bureau of Labor Statistics

Economics

Politics

Last September, Morning Consult released <a href="https://pro.morningconsult.com/analyst-reports/influencer-marketing-trends-report?utm_source=mc_comms_outreach&amp;utm_medium=mc_comms_referral&amp;utm_campaign=influencer_report" target="_blank" rel="noopener">a report</a> that concluded 57% of Gen Z wants to become influencers and make that their career. As they all scroll Instagram and TikTok, they see what appears to be lavish lifestyles, fun “get ready with me” videos, and lackadaisical “day in the life” vlogs in which the most challenging part of the day is a 5:00 a.m. pilates class. They watch as 23-year-olds buy houses in the Hamptons and drive 2024 Range Rovers around town.
But what if that all comes crashing down? What happens when you lose your relevance or when audiences decide they’ve seen too much content? Sometimes, people who become incredibly but fleetingly popular on social media are not able to launch into more mainstream fame — so they fizzle out. Jason Nash is a prime example.
In the early 2010s, actor and stand-up comic Jason Nash became friends with YouTuber David Dobrik, joined his “vlog squad,” and soared with it to the height of its popularity. But a few years ago, Dobrik and his entire group fell from grace, and the vlog squad dissolved. Now, Dobrik owns a pizza parlor, and Nash asks for money on live TikToks.
<div id="attachment_776033" style="width: 303px" class="wp-caption aligncenter"><a href="https://www.tiktok.com/@kicks.and.gigs.re/video/7306327655106825503" target="_blank" rel="noopener"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-776033" class="wp-image-776033 size-full" src="https://dw-wp-production.imgix.net/2024/08/tiktok-abc.png" alt="Source: tiktok.com/@kicks.and.gigs.re" width="293" height="512" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-abc.png 293w, https://dw-wp-production.imgix.net/2024/08/tiktok-abc-172x300.png 172w" sizes="(max-width: 293px) 100vw, 293px" /></a>Source: tiktok.com/@kicks.and.gigs.re</div>
When someone is live on TikTok, viewers can send you “gifts,” like roses or other little emojis that turn into actual money for the creator who receives them. As a result, Nash goes live everyday doing random things so people will send him gifts (i.e., money).
This is a man who was once making millions on YouTube. He was producing shows with Dobrik, starring in &#8220;Funny or Die&#8221; videos, but now, he is attempting to hold onto any of his leftover relevancy to make money. Of course, the comments are ruthless, with some people hypothesizing that Dobrik’s pensions ran out, feeling sorry for Nash’s kids, and comparing this to “asking for money on the street.”
<div class="image"><img loading="lazy" decoding="async" class="size-full wp-image-776065 aligncenter" src="https://dw-wp-production.imgix.net/2024/08/tiktok-comment-1.png" alt="" width="512" height="95" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-comment-1.png 512w, https://dw-wp-production.imgix.net/2024/08/tiktok-comment-1-300x56.png 300w" sizes="(max-width: 512px) 100vw, 512px" /></div>
<div class="image"><img loading="lazy" decoding="async" class="size-full wp-image-776053 aligncenter" src="https://dw-wp-production.imgix.net/2024/08/tiktok-2.png" alt="" width="512" height="104" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-2.png 512w, https://dw-wp-production.imgix.net/2024/08/tiktok-2-300x61.png 300w" sizes="(max-width: 512px) 100vw, 512px" /></div>
<div id="attachment_776055" style="width: 522px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-776055" class="wp-image-776055 size-full" src="https://dw-wp-production.imgix.net/2024/08/tiktok-3.png" alt="" width="512" height="151" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-3.png 512w, https://dw-wp-production.imgix.net/2024/08/tiktok-3-300x88.png 300w" sizes="(max-width: 512px) 100vw, 512px" />Source: TikTok</div>
Nash’s TikTok lives have gotten to the point they are just sad, uncomfortable, and embarrassing. He’s angry, occasionally sad, and sometimes even cries. 
<div id="attachment_776069" style="width: 303px" class="wp-caption aligncenter"><a href="https://www.tiktok.com/@namikazej117/video/7347579705391844651?q=jason%20nash%20livestream&amp;t=1720619273885" target="_blank" rel="noopener"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-776069" class="wp-image-776069 size-full" src="https://dw-wp-production.imgix.net/2024/08/tiktok-5.png" alt="Source: tiktok.com/@namikazej117" width="293" height="512" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-5.png 293w, https://dw-wp-production.imgix.net/2024/08/tiktok-5-172x300.png 172w" sizes="(max-width: 293px) 100vw, 293px" /></a>Source: tiktok.com/@namikazej117</div>
The comments just continue, going so far as to name this virtual panhandling. One commenter flat said they want to see him get “an actual job.” 
<div class="image"><img loading="lazy" decoding="async" class="size-full wp-image-776059 aligncenter" src="https://dw-wp-production.imgix.net/2024/08/tiktok-6.png" alt="" width="512" height="88" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-6.png 512w, https://dw-wp-production.imgix.net/2024/08/tiktok-6-300x52.png 300w" sizes="(max-width: 512px) 100vw, 512px" /></div>
<div class="image"><img loading="lazy" decoding="async" class="size-full wp-image-776061 aligncenter" src="https://dw-wp-production.imgix.net/2024/08/tiktok-7.png" alt="" width="512" height="106" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-7.png 512w, https://dw-wp-production.imgix.net/2024/08/tiktok-7-300x62.png 300w" sizes="(max-width: 512px) 100vw, 512px" /></div>
<div id="attachment_776063" style="width: 522px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-776063" class="wp-image-776063 size-full" src="https://dw-wp-production.imgix.net/2024/08/tiktok-8.png" alt="Source: TikTok" width="512" height="105" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-8.png 512w, https://dw-wp-production.imgix.net/2024/08/tiktok-8-300x62.png 300w" sizes="(max-width: 512px) 100vw, 512px" />Source: TikTok</div>
I think that’s a challenge everyone wants him to attempt — everyone except Jason, that is. 
<h4><a href="https://www.dailywire.com/episode/when-your-5-seconds-of-fame-runs-out-member-exclusive" target="_blank" rel="noopener">WATCH: The Comments Section with Brett Cooper</a></h4>
In a recent podcast, he was confronted about “getting a real job,” and he responded that he doesn’t have any skills and has no interests outside of entertainment. Apparently, he seems to look down on normal jobs. 
<div id="attachment_776077" style="width: 296px" class="wp-caption aligncenter"><a href="https://www.tiktok.com/@spillsometeawithme1/video/7388951231957323039?lang=en" target="_blank" rel="noopener"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-776077" class="wp-image-776077 size-full" src="https://dw-wp-production.imgix.net/2024/08/tiktok-9.png" alt="Source: tiktok.com/@spillsometeawithme1" width="286" height="512" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-9.png 286w, https://dw-wp-production.imgix.net/2024/08/tiktok-9-168x300.png 168w" sizes="(max-width: 286px) 100vw, 286px" /></a>Source: tiktok.com/@spillsometeawithme1</div>
He gives excuse after excuse as to why he is not seeking gainful employment. If he were being honest, he would say, “I’m lazy, and I think I’m too good to work a ‘normal job.’” Because he most definitely has the skills to be a DoorDash driver or work at a retail store. Furthermore, good, hard-working people work those jobs. He needs to grow up, and the commenters agree:
<div class="image"><img loading="lazy" decoding="async" class="size-full wp-image-776079 aligncenter" src="https://dw-wp-production.imgix.net/2024/08/tiktok-10.png" alt="" width="512" height="113" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-10.png 512w, https://dw-wp-production.imgix.net/2024/08/tiktok-10-300x66.png 300w" sizes="(max-width: 512px) 100vw, 512px" /></div>
<div id="attachment_776085" style="width: 522px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-776085" class="wp-image-776085 size-full" src="https://dw-wp-production.imgix.net/2024/08/tiktok-11.png" alt="Source: TikTok" width="512" height="104" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-11.png 512w, https://dw-wp-production.imgix.net/2024/08/tiktok-11-300x61.png 300w" sizes="(max-width: 512px) 100vw, 512px" />Source: TikTok</div>
Nash got famous in his 30s, so he had to be doing something before that. Struggling actors all have a side job, so he is bound to have some kind of skill. Some of the comments offer elements of personal responsibility and common sense: 
<div id="attachment_776089" style="width: 522px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-776089" class="wp-image-776089 size-full" src="https://dw-wp-production.imgix.net/2024/08/tiktok-13.png" alt="Source: TikTok" width="512" height="110" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-13.png 512w, https://dw-wp-production.imgix.net/2024/08/tiktok-13-300x64.png 300w" sizes="(max-width: 512px) 100vw, 512px" />Source: TikTok</div>
To Nash’s explanation of why he is not in real estate, one commenter explained the gap in understanding:
<div id="attachment_776091" style="width: 522px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-776091" class="wp-image-776091 size-full" src="https://dw-wp-production.imgix.net/2024/08/tiktok-14.png" alt="Source: TikTok" width="512" height="110" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-14.png 512w, https://dw-wp-production.imgix.net/2024/08/tiktok-14-300x64.png 300w" sizes="(max-width: 512px) 100vw, 512px" />Source: TikTok</div>
Jason Nash’s journey to and fall from influencer fame should serve as a cautionary tale to everyone. If you are in a fickle, unstable business, know that — and handle your money responsibly. Then, squelch your ego and be realistic. Life comes for everyone, and no one is immune. And when hard times come, you should never look down on the work that every normal person does.
This brings me to the Hawk Tuah girl, the details of whose story I will skip over, but in short form, a girl went insanely viral after her man-on-the-street interview: 
<div id="attachment_776095" style="width: 307px" class="wp-caption aligncenter"><a href="https://www.tiktok.com/@ahpositive/video/7383483959180643617?q=hawk%20tuah&amp;t=1720620541704" target="_blank" rel="noopener"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-776095" class="wp-image-776095 size-full" src="https://dw-wp-production.imgix.net/2024/08/tiktok-15.png" alt="Source: tiktok.com/@ahpositive" width="297" height="471" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-15.png 297w, https://dw-wp-production.imgix.net/2024/08/tiktok-15-189x300.png 189w" sizes="(max-width: 297px) 100vw, 297px" /></a>Source: tiktok.com/@ahpositive</div>
My concern for this girl stems from watching Jason Nash and people whose fleeting fame lands them in hardship. In an interview she did with Barstool, she explained she has quit her job to move to LA to be a celebrity. She states, “I think we’re going to do like a show and then we’re just gonna be like on a bunch of podcasts and everything else in between.” After a seven-second viral clip, she has a whole team now. And she plans to figure it out as she goes but “there’s more to come.” 
<div id="attachment_776099" style="width: 298px" class="wp-caption aligncenter"><a href="https://www.tiktok.com/@barstoolsports/video/7386722110770548011?q=hawk%20tuah%20interview&amp;t=1720618016839" target="_blank" rel="noopener"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-776099" class="wp-image-776099 size-full" src="https://dw-wp-production.imgix.net/2024/08/tiktok-16.png" alt="Source: tiktok.com/@barstoolsports" width="288" height="512" srcset="https://dw-wp-production.imgix.net/2024/08/tiktok-16.png 288w, https://dw-wp-production.imgix.net/2024/08/tiktok-16-169x300.png 169w" sizes="(max-width: 288px) 100vw, 288px" /></a>Source: tiktok.com/@barstoolsports</div>
I would love to have a word with whomever is advising her. She is doing documentary-style videos on TikTok, selling Hawk Tuah merch, but simultaneously doing press saying she does not want to be known for that. This all seems like a recipe for disaster, but at the end of the day, it’s her life — go for it if you want, take the leap, but I hope she will keep some humility as she leaps.
That said, I kept my Trader Joe’s employee name tag, and I will absolutely march right back in if need be. Being an influencer or content creator does not excuse anyone from the realities of life.

DW_CommentSection_pt2_0198RT (1) copy

When The 15 Minutes Run Out, What Happens Next?

Brett Cooper

Instagram

Readers Pass

TikTok

YouTube

The unemployment rate rose to 4.3% in July as fewer jobs were added to the economy than expected, according to data from the Bureau of Labor Statistics released Friday. 
The <a href="https://www.bls.gov/news.release/empsit.nr0.htm" target="_blank" rel="noopener">data</a> showed that just 114,000 non-farm jobs were added last month, far less than the 185,000 expected by analysts. Unemployment <a href="https://finance.yahoo.com/news/july-jobs-report-unemployment-rate-jumps-to-43-job-gains-total-just-114000-as-labor-slowdown-deepens-190219766.html#:~:text=Data%20from%20the%20Bureau%20of,highest%20level%20since%20October%202021." target="_blank" rel="noopener">reached</a> its highest level since October 2021, and 0.8% higher than this time last year. 
“The unemployment rate rose by 0.2 percentage point to 4.3 percent in July, and the number of unemployed people increased by 352,000 to 7.2 million,” the report said. “These measures are higher than a year earlier, when the jobless rate was 3.5 percent, and the number of unemployed people was 5.9 million.”
According to the bureau, Hurricane Beryl, which made landfall in Texas on July 7, 2023, did not impact the weak showing.
“Hurricane Beryl had no discernible effect on the national employment and unemployment data for July, and the response rates for the two surveys were within normal ranges,” the report said. 
 According to the statistics, unemployment increased mainly among men and white people. 
“Among the major worker groups, the unemployment rates for adult men (4.0 percent) and Whites (3.8 percent) increased in July. The jobless rates for adult women (3.8 percent), teenagers (12.4 percent), Blacks (6.3 percent), Asians (3.7 percent), and Hispanics (5.3 percent) showed little or no change over the month,” the report said. 
According to Heritage Foundation economist E.J. Antoni, native-born Americans <a href="https://x.com/RealEJAntoni/status/1819359410931519831" target="_blank" rel="noopener">have</a> taken the brunt of the job losses over the last year. 
“Over the last year, native-born Americans have LOST 1.2 million jobs while foreign-born employment has increased 1.3 million; we&#8217;re just swapping out American workers at this point, not growing the pie for everyone,” he said on Friday. 
<a href="http://www.amiracist.com/" target="_blank" rel="noopener">WATCH THE TRAILER FOR &#8216;AM I RACIST?&#8217; — A MATT WALSH COMEDY ON DEI</a>
The bureau said that employment increased in the healthcare, construction, transportation, and warehouse industries while jobs in the information industry declined. Fifty-five thousand jobs were gained in health care, 25,000 in construction, and 14,000 in transportation and warehousing, while information employment dropped 20,000. 
The lackluster report prompted some lawmakers to express concerns that the economy would continue to trend in the wrong direction, with persistent inflation still hampering consumers. 
“We must replace Kamalanomics with MAGAnomics if we want to avoid a recession! Choose wisely in November!” Rep. Jim Banks (R-IN) <a href="https://x.com/Jim_Banks/status/1819356497832214998" target="_blank" rel="noopener">said</a> on Friday.

US-HEALTH-VIRUS-ILLUSTRATION

Unemployment Rate Reaches Highest Point In Nearly 3 Years

U.S. Politics

Democrats and the media pounced after former President Donald Trump said during last week&#8217;s debate that illegal immigrants allowed to enter the country under President Joe Biden were “taking black jobs,&#8221; but the contention is backed up by a government report that found how the migrant influx has harmed employment opportunities for black Americans.
Trump said the up to “20 million people” who President Joe Biden has “allowed to come in through the border” are “taking black jobs and they’re taking Hispanic jobs.” Democrats claimed to be outraged at the phrasing. On MSNBC, Ja’han Jones, a writer whose <a href="https://www.msnbc.com/author/jahan-jones-ncpn371241">main projects</a> are discussing how there are such things as “Black hair” and “Black obituaries,&#8221; said &#8220;black jobs&#8221; was “racist and dehumanizing language.” Jones added that blacks would not want to take construction jobs because they would have to work too hard.
USA Today, which is currently advertising <a href="https://www.salary.com/job/gannett-usa-today-network/2024-intern-gannett-forward-diverse-summer-internship-program/j202403271132153846104" target="_blank" rel="noopener">100 jobs</a> through its “Diverse Summer Internship Program” as “part of its effort to build more inclusive newsrooms,” wrote that “there’s <a href="https://www.usatoday.com/story/opinion/columnist/2024/07/02/trump-black-jobs-debate-comment-immigration/74248100007/" target="_blank" rel="noopener">no such thing</a> as a Black job&#8230; there is no racial qualification for any job.”
In Forbes, Shaun Harper, a <a href="https://twitter.com/drshaunharper">black professor</a> and a self-described <a href="https://www.forbes.com/sites/shaunharper/2024/06/29/black-peoples-responses-to-trumps-notion-of-black-jobs/" target="_blank" rel="noopener"> diversity, equity, and inclusion (DEI) expert,</a> wrote that “many Black Americans are noting how insulted they were by Trump’s notion of ‘Black jobs.’” He said black colleges can help train blacks for black jobs, and credited Biden for announcing that he would steer money to black universities.
They also argued with the substance of Trump&#8217;s statement, with the Washington Post saying that immigrants actually “<a href="https://www.washingtonpost.com/business/2024/06/28/trump-black-jobs-economy-immigration/" target="_blank" rel="noopener">gin up demand</a> for goods and services, which strengthens the economy and creates the need for new jobs.” As evidence that immigrants were not taking blacks’ jobs, it said that “Black workers’ presence in lower-wage sectors such as leisure and hospitality and retail [has] decreased.”
However, a House panel heard last year that there are potentially an <a href="https://edworkforce.house.gov/uploadedfiles/9.13.23_camarota_testimony_help_subcommittee_hearing_on_open_borders_and_workforce.pdf">estimated nine million illegals</a> in the workforce, and that the number of U.S. natives who are not even attempting to work is 10 million higher than it was in the year 2000. While the Biden administration has relied on positive employment numbers for blacks to make its case, unemployment rates only count people who are looking for work, not those who have simply given up and dropped out of the workforce.
“One of the things most striking about the enormous decline in native labor force participation is how little it is ever discussed, particularly when the need for more workers is mentioned. Our August 2023 report on labor force participation shows that &#8230; the total number of U.S.-born, working-age (16 to 64) men and women not in the labor force was 44 million in April of 2023, nearly 10 million more than in April 2000,” a <a href="https://edworkforce.house.gov/uploadedfiles/9.13.23_camarota_testimony_help_subcommittee_hearing_on_open_borders_and_workforce.pdf" target="_blank" rel="noopener">presentation</a> from the Center for Immigration Studies to the House workforce committee said.
It found that in particular, Americans at the bottom rung of the education ladder have dropped out of the workforce in large numbers over the last decades. Whereas high school dropouts might have worked low-skill jobs in a bygone era, now those jobs may be perceived as the domain of illegal immigrants, while an American underclass festers that has never worked any legitimate job, instead turning to crime and welfare.
The report presented numbers showing illegals vying with Americans and legal immigrants in large numbers, particularly in fields including carpentry, roofing, painting, and cooking. 
In 2008, a government commission also studied the exact assertion made by Trump. The United States Commission on Civil Rights produced a report on <a href="https://www.usccr.gov/files/pubs/docs/IllegImmig_10-14-10_430pm.pdf" target="_blank" rel="noopener">“The Impact of Illegal Immigration on the Wages and Employment Opportunities of Black Workers.”</a>
It found that “illegal immigration has tended to increase the supply of low-skilled, low-wage labor available,&#8221; and &#8220;that about six in 10 adult black males have a high school diploma or less, and are disproportionately employed in the low-skilled labor market in likely competition with immigrants.” It cited a National Bureau of Economic Research working <a href="https://www.nber.org/papers/w12518" target="_blank" rel="noopener">paper</a> that “suggests that a 10-percent immigrant-induced increase in the supply of a particular skill group reduced the black wage by 4.0 percent, lowered the employment rate of black men by 3.5 percentage points, and increased the incarceration rate of blacks by almost a full percentage point.”
One researcher said “that both black Americans and illegal immigrants are disproportionately concentrated in many central cities of large metropolitan areas where job competition between them is likely to be extensive.” Another said that evidence suggests that some employers “prefer immigrants because of a perceived superior work ethic and tolerance for low wages” and pointed to the “desperation of illegal workers for any job&#8221; that pays more than what they would make in their home country.
Democrats’ and the media’s attempts to rebut the idea that adding 10 to 20 million people might take jobs that would have otherwise gone to Americans relied on studies that explicitly studied legal immigrants—including those who are granted visas because of their tech skills or specifically to found companies—instead of illegal immigrants, which is what Trump referred to. The other reports attempted to preserve the distinction, but acknowledged that accurate data that doesn&#8217;t blur the two groups does not exist.
In the debate, the moderator had asked the candidates to address “black unemployment.” Biden answered using similar phrasing as Trump, saying he would reduce the cost of “black childcare” in addition to “finding&#8230; these corporate operations that collude to keep people out of their houses.”

Ibram Kendi, a man with a black job, speaks at an event for black films on Martha’s Vineyard. (Photo by Arturo Holmes/Getty Images for MVAAFF)

Reports Back Up Trump Contention That Illegal Immigrants Are ‘Taking Black Jobs’

Illegal Immigration

Joe Biden

Racism

The latest jobs report sent mixed signals, showing <a href="https://www.dailywire.com/topic/unemployment" target="_blank" rel="noopener">joblessness</a> ticking up after a long stretch of low unemployment while the economy added new jobs faster than expected.
The unemployment rate unexpectedly jumped to 4% last month, according to the May jobs report, <a href="https://www.bls.gov/news.release/empsit.nr0.htm" target="_blank" rel="noopener">released</a> Friday by the Labor Department.
For the past 27 months, the unemployment rate had remained below 4%, the longest such stretch since the 1960s.
The unemployment rate for black Americans <a href="https://www.bloomberg.com/news/live-blog/2024-06-07/us-employment-report-for-may?srnd=homepage-americas&amp;sref=vuYGislZ" target="_blank" rel="noopener">jumped</a> to 6.1% from 5.6%, while for white people, the unemployment rate remained lower than the overall rate at 3.5%.
The labor force participation rate also dipped suddenly to 62.5%, mostly due to young workers between the ages of 20 and 24 abandoning the job market.
Meanwhile, the U.S. economy added jobs faster than expected last month, although much of that growth was in part-time jobs, while the number of full-time jobs has fallen. A year ago in May, there were <a href="https://www.zerohedge.com/markets/inside-most-ridiculous-jobs-report-years" target="_blank" rel="noopener">over</a> a million more full-time jobs than there were last month.
Also, many of the new jobs went to migrants.
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The number of U.S.-born workers <a href="https://www.zerohedge.com/markets/inside-most-ridiculous-jobs-report-years" target="_blank" rel="noopener">fell</a> last month by 663,000 to about 130,445,000. Meanwhile, the number of foreign-born workers rose by 414,000.
Employers added 272,000 new non-farm jobs last month, beating economists’ estimates of about 180,000 jobs and a 3.9% unemployment rate.
Most of the new jobs appeared in health care with 68,000 additional jobs, government with 43,000 jobs, and leisure and hospitality with 42,000 jobs.
Manufacturing and construction jobs also ticked higher last month.
The high number of new jobs could discourage officials at the Federal Reserve from cutting interest rates this year since they have been waiting for the job market to cool while unemployment remains low.
Despite the robust job gains, the Labor Department&#8217;s household survey showed 408,000 fewer people working last month.
Wage gains exceeded expectations, with average hourly pay rising by 0.4% in May from the previous month. This brings the average hourly wage up 4.1% over the past year.
President Biden celebrated the jobs report, <a href="https://www.nytimes.com/live/2024/06/07/business/may-jobs-report" target="_blank" rel="noopener">declaring</a> in a release, “On my watch, 15.6 million more Americans have the dignity and respect that comes with a job.”
At the same time, former President Trump&#8217;s campaign slammed the jobs report in one of the campaign&#8217;s daily emails, calling the report &#8220;yet another indication that &#8216;Bidenomics&#8217; does not work.&#8221;
The economy has loomed large as the election cycle heats up, with voters <a href="https://www.cbsnews.com/news/economy-top-issue-voters-presidential-election-2024/" target="_blank" rel="noopener">saying</a> inflation is their top concern, according to recent polls. Immigration and the crisis at the border has also polled as a top issue in recent months, at times even eclipsing the economy.

Group of unrecognizable candidates waiting for a job interview.

Unemployment Jumps Suddenly In May Jobs Report

Biden

Biden Administration

A federal judge ordered <a href="https://www.dailywire.com/topic/hunter-biden" target="_blank" rel="noopener">Hunter Biden</a> to get a job on Wednesday as part of his release conditions after he pleaded not guilty in court to tax charges.
The order from U.S. District Judge Maryellen Noreika, a Trump appointee, said that Hunter must &#8220;continue or actively seek employment.&#8221;
The order also said that Hunter may not consume any alcohol and must &#8220;not use or unlawfully possess a narcotic drug or other controlled substances&#8221; unless prescribed by a licensed medical practitioner.
Hunter must &#8220;submit to testing for a prohibited substance if required by the pretrial services office or supervising officer,&#8221; the order added. &#8220;Testing may be used with random frequency and may include urine testing, the wearing of a sweat patch, a remote alcohol testing system, and/or any form of prohibited substance screening or testing. The defendant must not obstruct, attempt to obstruct, or tamper with the efficiency and accuracy of prohibited substance screening or testing.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
As part of his release conditions, Judge Noreika ordered Hunter Biden to get a job, drink NO alcohol, not use or possess any drugs, and — if asked by pretrial services or officers —submit to testing and participate in substance abuse therapy <a href="https://t.co/DA0m1U2GnK">pic.twitter.com/DA0m1U2GnK</a>
&mdash; Jacqui Heinrich (@JacquiHeinrich) <a href="https://twitter.com/JacquiHeinrich/status/1684328007752724480?ref_src=twsrc%5Etfw">July 26, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Hunter was expected to plead guilty to two misdemeanor tax counts of willful failure to pay federal income tax and enter into a diversion program in lieu of pleading guilty to a felony gun charge.
However, that plan was tossed out the window, at least for now, after Noreika <a href="https://www.dailywire.com/news/hunter-biden-changes-expected-plea-after-deal-stalls-in-court" target="_blank" rel="noopener">learned</a> from prosecutors that Hunter was still under criminal investigation for other matters. “I cannot accept the plea agreement today,” she said.
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“These agreements are not straightforward and they contain atypical provisions,” she said. “I’m not in a position where I can decide to accept or reject a plea agreement and I need to defer it.”
The deal hit a snag when Noreika asked federal prosecutor Leo Wise whether there was an ongoing criminal investigation into Hunter.
“There is,” Wise responded, noting that he could not give further details.
When Noreika asked if the ongoing criminal investigation could result in the DOJ potentially bringing charges related to the Foreign Agents Registration Act (FARA), Wise responded, “Yes.”
Defense attorney Chris Clark said that he believed that the plea deal had closed the door on the possibility that any additional charges would be brought. “As far as I’m concerned, the plea agreement is null and void,” he said.

Hunter Biden Goes To Court To Plead Guilty To Tax Violations

Federal Judge Orders Hunter Biden To Get A Job

Courts

Hunter Biden

The <a href="https://www.dailywire.com/topic/federal-reserve" target="_blank" rel="noopener">Federal Reserve</a> hiked interest rates to the highest level in 22 years on Wednesday, despite easing inflationary pressures.
After two days of deliberation, the Federal Reserve raised the federal funds rate from 5% to a target of 5.25% to 5.5%, explaining in a statement that “additional policy firming (rate increases)” will depend on economic and inflationary indicators allowing the Fed to both hit its 2% inflation goal while maintaining economic growth.
“The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 5-1/4 to 5-1/2 percent. The Committee will continue to assess additional information and its implications for monetary policy,” the statement continued.
The hike received unanimous support from the Federal Reserve Board and is in keeping with the 11 hikes since March of 2022, despite a short pause in June, per <a href="https://www.cnbc.com/2023/07/26/fed-meeting-july-2023-.html">CNBC</a>. Fed Chair Jerome Powell said in late June that — despite the lack of a rate increase that month — inflation was still too high, and that its persistent rate above the target of 2% would likely lead to more “restriction” on monetary policy.
Inflation has been slightly cooling off in the past several months, with the consumer price index, according to CNBC, settling at 3% on a yearly basis in June, down from 9.1% in June 2022. Despite this, the Fed has maintained the most aggressive consecutive hike in interest rates since the 1980s, which featured even higher inflation rates.
Although inflation has relatively decreased since its meteoric peaks in the past three years, the Fed is committed to bringing it all the way down to the target of 2%, with the FOMC hinting at further rate hikes in the months of September and November to further bring down inflation.
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Greg McBride, senior vice president and chief financial analyst for Bankrate, concurs with the Fed’s sentiment, telling <a href="https://www.nbcnews.com/business/economy/interest-rate-hike-july-2023-how-much-higher-federal-reserve-rcna96210">NBC</a>, &#8220;Inflation remains stubbornly high.&#8221;
&#8220;The economy has been remarkably resilient, the labor market is still robust, but that may be contributing to the stubbornly high inflation,&#8221; he said. &#8220;So, Fed has to pump the brakes a bit more.”

Chairman Jerome Powell Holds A Press Conference At The Federal Reserve

Fed Raises Interest Rates To Highest Level In Two Decades

<a href="https://www.dailywire.com/topic/ford-motor-co" target="_blank" rel="noopener">Ford Motor Company</a> could announce new layoffs as soon as next week &#8212; its third round of layoffs within the last year.
Sources informed <a href="https://www.wsj.com/articles/ford-prepares-new-round-of-layoffs-for-u-s-salaried-workers-a533a7a4?mod=hp_lead_pos5" target="_blank" rel="noopener">The Wall Street Journal</a> that this round of layoffs will primarily affect U.S. salaried workers in the gas, electric vehicle, and software divisions of the company.
The reported layoffs come after the company <a href="https://www.cnbc.com/2022/08/22/ford-to-cut-3000-jobs-primarily-in-north-america.html" target="_blank" rel="noopener">cut 3,000 American jobs</a> last August and announced earlier this year that it would <a href="https://www.wsj.com/articles/ford-to-cut-3-800-jobs-in-europe-in-ev-shift-e1f8f567?mod=article_inline" target="_blank" rel="noopener">reduce its European workforce</a> by 3,800.
The company has struggled to curb its spending as it transitions to electric vehicles and reported a $2 billion net loss last year, all while having committed to spending $50 billion through 2026 in developing its EV unit.
The company <a href="https://media.ford.com/content/fordmedia/fna/us/en/news/2022/03/02/ford-accelerating-transformation.html" target="_blank" rel="noopener">previously reported</a> that it hopes to ramp up annual EV production to two million by 2026 and expects EVs to represent half of its global volume by 2030.
CEO Jim Farley has acknowledged the company will need to spend “billions” to procure materials that would enable an increase in EV production, and the company has <a href="https://www.wsj.com/articles/ford-ceo-jim-farley-grapples-with-problems-from-the-auto-makers-past-b098271c?mod=article_inline" target="_blank" rel="noopener">received criticism</a> from previous CEOs about its operational inefficiencies.
Farley acknowledged that the company has struggled operationally on a February earnings call.
“The strength of our products and revenue has masked this dysfunctionality for a long time. It’s not an excuse, but it’s our reality,” he said.
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The report followed an earlier <a href="https://www.detroitnews.com/story/business/autos/ford/2023/06/22/doe-announces-9-2-billion-loan-plan-for-ford-sk-joint-venturefeds-announce-9-2-billion-loan-for-ford/70345917007/" target="_blank" rel="noopener">announcement</a> from the U.S. Department of Energy that it would loan $9.2 billion to Ford and South Korean battery maker SK &#8212; a loan that covers most of the $11.4 billion the companies had jointly pledged to spend on the venture.
The loan is the most significant financial support the federal government has given an automobile company since the Great Financial Crisis and is the biggest loan the Department of Energy has ever made.
Ford was out-earned by its rival General Motors in 2022, despite GM’s lower revenue and smaller workforce, and Ford’s annual costs are still $7 to $8 billion above where they should be relative to rivals, according to the Journal, though Ford did <a href="https://www.cnbc.com/2023/06/20/ford-ceo-didnt-hesitate-on-the-tesla-deal-its-good-for-customers.html" target="_blank" rel="noopener">report above-expected revenue</a> in its most recent quarterly earnings report.
The Journal also reported that the company would work to separate its gas-engine business from its EV and software sectors. Its EV sector is predicted to lose $3 billion in operating profit this year.
A Ford spokesperson said in a statement that the layoffs are in line with the company’s future business plans.
“As we have said, part of the ongoing management of our business includes aligning our global staffing to meet future business plans, as well as staying cost competitive as our industry evolves,” he said.

Ford

Ford Motor Company To Announce New Layoffs In Coming Weeks: Report

Cars

Ford Motor Co.

The share of the American <a href="http://dailywire.com/topic/jobs" target="_blank" rel="noopener">workforce</a> composed of foreign-born workers rose to record levels last year, a phenomenon which comes as <a href="https://www.dailywire.com/topic/immigration" target="_blank" rel="noopener">immigration</a> surges in the wake of worldwide <a href="https://www.dailywire.com/topic/lockdowns" target="_blank" rel="noopener">lockdowns</a> and as the nation’s <a href="http://dailywire.com/topic/economy" target="_blank" rel="noopener">economy</a> grapples with <a href="https://www.dailywire.com/topic/labor-shortage" target="_blank" rel="noopener">labor shortages</a>.
Workers born in other nations comprised 18.1% of the workforce in 2022, according to <a href="https://www.bls.gov/news.release/forbrn.htm" target="_blank" rel="noopener">data</a> released last week by the Bureau of Labor Statistics, marking an increase from 17.4% in 2021. Hispanics account for nearly half of the foreign-born labor force, while Asians account for one-quarter of the foreign-born labor force. Average weekly earnings for foreign-born workers were $945 last year, while weekly earnings for their native-born counterparts were $1,087.
Native-born workers were more likely than foreign-born workers to hold positions in management, professional, and sales occupations, while the latter were more likely to work in service, natural resources, construction, logistics, and maintenance. Labor force participation among native-born males was 66.0% compared to 77.4% for foreign-born men.
The heightened level of foreign-born workers as a share of the overall workforce occurs as the United States and other nations reverse public health mandates that slowed immigration and temporary residency. One <a href="https://www.pewresearch.org/short-reads/2022/12/01/after-declining-early-in-the-covid-19-outbreak-immigrant-naturalizations-in-the-u-s-are-rising-again/" target="_blank" rel="noopener">analysis</a> from Pew Research Center found that there has been a rise in “the number of immigrants receiving green cards as new lawful permanent residents, as well as a partial rebound in arrivals by foreign students, tourists, and other lawful temporary migrants.”
Illegal immigration has meanwhile <a href="https://www.dailywire.com/news/biden-heads-to-beach-after-shattering-all-time-record-with-83000-illegal-aliens-storming-border-in-1-week" target="_blank" rel="noopener">soared</a> to record levels over the past two years: as many as 5.5 million migrants have crossed into the United States under the Biden administration, according to <a href="https://www.prnewswire.com/news-releases/fair-analysis-5-5-million-illegal-aliens-have-crossed-our-borders-since-biden-took-officehow-is-secretary-mayorkas-still-employed-301658734.html" target="_blank" rel="noopener">data</a> from the Federation for American Immigration Reform. Critics of immigration policies forwarded by the White House have asserted that lackluster emphasis on securing the border and increased resources for migrants who enter the country have worsened the crisis.
Several cities and at least one state <a href="https://www.dailywire.com/news/leading-republicans-decry-biden-border-crisis-as-title-42-ends" target="_blank" rel="noopener">declared</a> emergencies this month as officials prepare for the conclusion of Title 42, a statute which permitted authorities to quickly turn away migrants at the southern border on public health grounds. Large groups of illegal immigrants have been recorded amassing at the border and seeking to enter the country between ports of entry.
The labor market over the past three years has widely been considered a bright spot in an otherwise dismal economic landscape marked by record inflation and persistent supply chain bottlenecks. Low labor force participation across the economy, on the other hand, has <a href="https://www.dailywire.com/news/americans-continue-to-opt-out-of-the-workforce" target="_blank" rel="noopener">worsened</a> both trends as businesses raise wages to fill their payrolls and attract or retain more workers. Excess retirements amid the lockdown-induced recession have been <a href="https://www.dailywire.com/news/federal-reserve-chair-jerome-powell-discusses-future-slowdown-of-rate-hikes" target="_blank" rel="noopener">identified</a> as a factor contributing to decreased labor force participation.
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There were 30.0 million foreign-born workers in the United States as of last month, according to <a href="https://fred.stlouisfed.org/series/LNU02073395" target="_blank" rel="noopener">data</a> from the Bureau of Labor Statistics, eclipsing the 27.7 million workers counted in the month before the lockdowns and significantly surpassing 22.0 million workers three years ago. There were meanwhile 131.1 million native-born workers last month, according to more <a href="https://fred.stlouisfed.org/series/LNU02073413" target="_blank" rel="noopener">data</a>, a figure which remains below levels recorded before the recession.
Foreign-born workers composed some 15.0% of the workforce in 2005, according to more <a href="https://www.bls.gov/news.release/archives/forbrn_04142006.pdf" target="_blank" rel="noopener">data</a> from the Bureau of Labor Statistics.

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