According to the Congressional Budget Office (CBO), millions of Americans could become unemployed over the next three to four years as President Joe Biden seeks to fill American jobs with foreign workers.
A report released this month by CBO analysts details that the number of unemployed Americans, all of whom want full-time jobs, will not return to previous levels of stability until at least 2024.
“As the economy expands, many people rejoin the civilian labor force who had left it during the pandemic, restoring it to its pre-pandemic size in 2022,” the report states. “The unemployment rate gradually declines throughout the period, and the number of people employed returns to its pre-pandemic level in 2024.”
According to Breitbart News, President Biden himself admitted on camera that the United States would not reach full employment until 2031.
In another estimate made by the CBO, about 1.3 million active workers would be unemployed in an average week in 2025, implying a 0.8% reduction. However, the CBO also noted that a federal minimum wage of $15 per hour would increase 17 million workers’ wages.
Although the federal minimum wage would increase workers’ earnings, the CBO notes that higher unemployment rates would offset higher earnings.
As Fox Business reports, the CBO adds that the measure would also reduce business income and raise prices as business owners absorb the higher labor costs and pass them on to consumers.
Today, there are more than 17 million unemployed Americans and another six million underemployed. Every one of them is looking for a full-time job with competitive wages and good benefits.
While projections estimate unemployment in the millions of Americans, the Biden administration is still working on its labor policy, which seeks to flood the U.S. labor market with millions of illegal aliens.
At the U.S.–Mexico border, Biden restarted the immigration program called ‘Catch and Release’ which catches and releases illegal aliens inside the country while they await asylum hearings.
By 2022, Biden also announced an increase in refugee resettlement in the United States, plans to offer amnesty to nearly all illegal immigrants, and block reforms to several visa programs while seeking to increase legal immigration levels.
Biden’s orders have targeted Immigration and Customs Enforcement (ICE), which helps protect the U.S. labor market. According to Breitbart News, Biden’s decree changes regulations that halt deportations and only prioritizes the arrest of illegal aliens who are terrorists, national security threats, or convicted aggravated felons.