Federal Reserve Chair Jerome Powell signaled on Friday that the central bank could cut interest rates as early as September. Speaking at the Kansas City Fed’s annual Jackson Hole conference, Powell cited a shift in risks toward slowing job growth as the rationale for changing course.
July’s Bureau of Labor Statistics (BLS) job report confirms that all net employment gains were claimed by native‑born Americans — not foreign-born workers. The shift reflects higher labor participation among U.S. citizens and a decrease in foreign worker involvement, according to the Department of Homeland Security.
The U.S. economy added just 73,000 jobs in July, far short of the 104,000 expected by economists, according to Friday’s Labor Department report. Unemployment rose to 4.2 percent, with significant downward revisions to previous months raising alarm about the true state of the labor market.
New data from the U.S. Labor Department reveals that native-born Americans have secured 100 percent of job gains since President Donald Trump returned to office in January. The figures show a sharp reversal from the Biden era, when foreign-born workers accounted for nearly half of new employment.
Peter Navarro, former senior counselor for trade and manufacturing under President Donald Trump, stated in an exclusive interview that nearly all new jobs created during the Biden administration have gone to newly arrived migrants. Speaking with Breitbart News Editor-in-Chief Alex Marlow on The Alex Marlow Show podcast, Navarro linked mass immigration to free trade policies that drive down wages and displace American workers.
