An Awesome Employment Report
Economists predicted Donald Trump’s immigration policies would starve employers of workers and hit an economic speed limit.
The rapid growth of the economy in the second and third quarters of 2025 was seen as something of an anomaly. Many analysts saw it as unsustainable given the constraints on the growth of the labor force created by baby boomer retirements, deportations, and the slowdown in immigration. As Federal Reserve Chairman Jerome Powell said in defending his cautious outlook, “the lore is that when GDP and the labor market get into an argument, in the end, labor market is more—the labor market data is…
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