March 9, 2019

Saturday (Moderated) Open Thread (030919)

Filed under: Lucid Links — Tom @ 6:00 am

This open thread is meant for commenters to post on items which they believe need to be known. Rules are here.


1 Comment

  1. Proof that cheap foreign labor of any kind depresses citizen’s wages and quite frankly is bad for productivity and innovation. Cheap labor is bad management’s substitute for cost effective solutions, a failure which leads to stagnation for everyone. Crappy ineffective managers don’t innovate because they lack the whip of competition. This is the problem of allowing politicians to interfere in the supply and demand paradigm via imported labor.

    Trump’s ‘Hire American’ Policy Delivers Fastest Wage Growth Since 2009

    President Donald Trump’s “Hire American” policy pushed Americans’ wages up by 3.4 percent in the last 12 months, according to employment data released March 8…

    …Productivity rose 1.8 percent in 2018, up from 0.2 percent in Obama’s last year, because higher wages are pressuring employers to buy the labor-saving machinery that will help Americans produce even more wealth

    …On March 6, Trump told Apple CEO Tim Cook and other CEOs that he would open a new pipeline of cheap foreign workers for tech companies. That shift is good for companies who do not want to hire workers away from each other by offering escalating salaries…

    …To suppress these wage gains, Cook and his peers want to import more cheap, foreign workers via the H-1B, L-1 and OPT visa programs. In 2018, for example, Apple asked for federal approval to import 1,814 H-1B visa-workers and to get green cards for 103 visa workers. Overall, U.S. companies already employ at least 1.5 million of these visa workers

    …The Associated Press reported that “average hourly pay last month rose 3.4 percent from a year earlier — the sharpest year-over-year increase in a decade.”

    Throughout 2018, wages rose faster among Americans who switched jobs and faster in states with low shares of immigrant workers. In Minnesota, for example, immigrants have inflated the labor supply by only ten percent, so wages rose by 5.2 percent during 2018.

    Bolds are mine.

    Comment by dscott — March 9, 2019 @ 10:40 am

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