This more thoughtful article is an improvement on your “chill out” message earlier. One statistic you might have included comes from the Dept of Labor Statistics and the Census Bureau. From 2000–2015, the economy added 18 million net new jobs; we also added 20–25 million more young people to the 16–65 year old workforce than retired from it. Not bad, except during the same period, we imported another 18 million legal immigrants. Quite a mismatch of supply vs. demand for jobs. Even worse, of the 18 million new jobs, the job level of foreign born residents increased by, you guessed it, 18 million. The job level of US born residents increased, well, not at all; it was flat for those 15 years. When I hear anyone argue that immigrants do not compete with US citizens for jobs, it really ticks me off.
There are more issues that make their contributions, of course. Free trade, for example. In the rarified abstract of economic theory, we all should benefit. But in practice, we import freely, but our exports are often subject to subtle and not-so-subtle roadblocks.
Even worse, many of the executives of our large firms quite willingly chase a shareholder value fiduciary model with utter disregard for US stakeholders or their firm’s responsibilities as part of this nation’s economy. For a small shareholder gain, they are quite willing to shut down in the US and build their manufacturing overseas. The resulting US unemployment and hollowing out of US manufacturing does not enter into their equations. I wonder if they even see themselves as Americans anymore.
Another issue is the statistic that for the first time in many decades, more small businesses are going out of business than are being started. Small business is the traditional engine of new jobs. If your startup is burdened by over-regulation or you lose your job when a small business fails, you may join the ranks of the angry.