The “American dream” is left without manpower (and without jokes)
It seems that the United States is hell-bent on sabotaging its own economy with the elegance of an elephant in a china shop. According to a analysis by Barclays – yes, those Brits who know more about our labor market than we do – anti-immigration policies are about to turn the “land of opportunity” into the “land of unemployment queues.”
When xenophobia is more expensive than an iPhone Pro Max
It turns out that, after surviving a pandemic, inflation and Trump memes, the American economy is facing its worst enemy: itself. Barclays notes that without immigrants, the workforce could lose up to 40,000 jobs per month by 2025. Basically, it’s like eliminating the entire population of Aspen, Colorado, every month. The reason? Pure mathematics: baby boomers are retiring, millennials are not having enough children (thanks, economic crisis!) and natives are not filling the jobs.
But here’s the best part: non-farm jobs, those that keep the country going, could fall from 150,000 to 40,000 a month. In other words, we went from hiring as if it were Black Friday to doing it as if it were a record store in 2023. And the worst thing is that it’s not even due to lack of demand, but because there simply won’t be enough (legal) hands to work.
The irony? While some politicians remain obsessed with building walls, the economy needs workers more than ever. Without them, growth will slow down more than a bureaucratic process. Barclays sums it up with British elegance: This could put an end to “American exceptionalism”. Or, in Christian, that the US will no longer be the economic superpower that we all knew.
Moral of the day: If you want to kill your economy, start by closing the doors to those who support it. Next step? Probably blame the immigrants for that too.
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