U.S. Steelmakers Back Trump’s Tariff Plans amid Steep Foreign Competition

Trump and Steel Workers

Some U.S. steelmakers are supporting President-elect Donald Trump’s proposals to place tariffs on China, Mexico and other countries, according to The Wall Street Journal.

American steel companies are calling for Trump to reintroduce tariffs on steel from the U.K., Japan and the EU amid concerns of foreign competitors being involved in unfair market practices, according to The WSJ. Some U.S. steel executives were supportive of steel tariffs under the previous Trump administration, with some steelmakers saying the tariffs helped to boost profits, The WSJ reported.

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Over 800,000 Fewer Native-Born Americans Are Employed than Last Year

Co-Workers

More than 800,000 fewer native-born Americans are employed than last year as job gains among Americans continue to lag behind those of foreign-born workers, according to data from the Bureau of Labor Statistics (BLS).

The number of foreign-born workers employed increased by approximately 1.2 million year-over-year in September, while 825,000 fewer native workers were employed, BLS data shows. The large annual difference is in spite of the roughly 920,000 upward employment fluctuation for native-born workers in September compared to August, after a 1,325,000 drop from July to August.

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Commentary: Foreign-Born Workers are Taking Americans’ Jobs

Something very strange is going on in America’s labor market. The employer’s survey in the June jobs report showed 272,000 jobs gained in May, and nearly 2.8 million jobs over the past year. These are both amazing figures given that the economy is at full employment.

While the employer’s survey is surely fine, the household survey, also produced by the Bureau of Labor Statistics (BLS), tells a strikingly different story, almost as though the country had two different labor markets.

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Illegal Immigration ‘Surge’ Will Put ‘Downward Pressure’ on Wages for Years, CBO Says

Illegal Immigrants - mass arrest

The Congressional Budget Office (CBO) projects that the ongoing surge in immigration, both legal and illegal, will put “downward pressure” on inflation-adjusted wages through 2034, according to a recently released report.

The downward effect on real wages will continue until 2027, at which point it will “partially reverse,” with immigration still expected to cause average real wages to be lower in 2034 than they otherwise would be, according to CBO. CBO did predict some positive impacts of immigration, as well, such as increased GDP growth and an expanded labor force.

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Commentary: Labor Department’s New Rule Is Bad News for Independent Contractors

Contract Worker

In what is sure to have significant implications for millions of American workers, specifically gig economy workers and contractors, the Department of Labor (DOL) issued its long-awaited final worker classification rule in January.

The new rule revises the process to determine whether a worker is an employee or independent contractor under the Fair Labor Standards Act. The government argues the rule is necessary to ensure that all workers are provided fair wages and overtime since independent contractors (people who work for themselves or a business on a contractual basis) are not given the same benefits, such as tax withholdings and paid time off, as traditional employees. However, this argument appears designed to mask the government’s true intention, which is to reduce the number of independent contractors in the country.

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