This has got to be bad for jobs. I am only coming out of the mess in 07, having retrained in nursing. Now ALL sectors of the workforce will be more competitive (bully for my FRiends who Are ready to hunker down and work past their retirement) What if there is no work to be had?
Of course it is bad for jobs. So is bringing in 1.1 million legal immigrants a year along with 640,000 guest workers annually while we have the lowest labor participation rates in 38 years. This is insanity. We have a surplus of labor, not jobs.