The Nice Substitute “Theory” * Involves Economics at Heritage

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Heritage Basis’s    EJ Antoni writes on X (August 2):

Over the past 12 months, native-born People have LOST 1.2 million jobs whereas foreign-born employment has elevated 1.3 million; we’re simply swapping out American staff at this level, not rising the pie for everybody…

 

He gives this graph:

Supply: EJ Antoni/Twitter.

I feel Dr. Antoni is utilizing July to July modifications.

I’d not fault somebody for utilizing official sequence from the US authorities; nonetheless, I’d fault somebody for citing calculations with out context, together with well-known caveats about what we all know now about considerations concerning the inhabitants controls presently utilized by BLS. For an individual who’s skeptical concerning the relevance of US authorities statistics (see right here), this omission is considerably shocking.

As Dr. Wendy Edelberg at Hamilton Challenge/Brookings has been documenting in numerous paperwork, the BLS inhabitants controls used could be lacking a piece of the inhabitants modifications; the CBO has additionally some info on this respect (which I’ve utilized in my adjustment to civilian employment). She and Dr. Tara Watson present this graph of modifications (January to January, however you get the thought).

Edelberg Watson Fig4 aug24

Supply: Edelberg and Watson (2024).

Whereas the cumulative change in overseas born employment is larger than that for native born, it’s nonetheless the case that cumulative native born employment is optimistic, contra Dr. Antoni.

* Wikipedia entry.

 

 

 

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