The U.S. Department of Labor announced that employers added… only 114,000 jobs in July, resulting in the unemployment rate rising to 4.3%. This is, in any case, a historically low unemployment rate.

The increase in jobs is mainly attributed to the health sectors (55,000) and construction (25,000).

So, is this bad news?

No, if one looks at the issue from a general perspective.

Regarding the employees’ side, this development is certainly negative. The greater the demand for jobs, the better for them, as they negotiate from a position of strength, thus securing better pay and better working conditions.

But in today’s job market, it is almost impossible to find employees, not only in the U.S. but also in Greece. Greeks returning from their vacations in their homeland speak of an unprecedented situation. It is impossible, they say, to find unskilled laborers, craftsmen, domestic helpers, and employees in the catering sector, regardless of the wage one offers.

And those who respond are mainly immigrants – the best are the Albanians, hardworking, energetic, smart – those who stayed in Greece. Many of them left for other European countries after the economic crisis.

The same applies here, of course. Ask a restaurant owner or a contractor if they can find employees.

On the other hand, the slower rate of job growth and the pressure this puts on wages contribute to the de-escalation of inflation, which has devastated household budgets in America and Europe.

Furthermore, this reduction in inflation will lead – as the Fed is expected to do soon – to a decrease in interest rates with positive effects across the entire economic spectrum, from mortgage rates to credit cards, etc.

And these will contribute to the future economic revival, which will later lead to a decrease in the unemployment rate.

The growth of an economy, the increase in production, and hence the wealth of a country, presupposes the ability to find employees, however. On the other hand, a lack of employees acts as a brake on the economy, leading to decay.

The solution to the problem, for me, is immigration. It was the paradigmatic response to such situations in the America of previous decades.

There are millions of people seeking the opportunity to work, to start families, to live a decent life.

Yes, of course, you can’t have uncontrolled borders. A country must decide who enters and who does not. However, although this is almost self-evident, politicians remain all talk. They exploit the issue. They do not take proper measures to control their borders.

Isn’t it remarkable?

Nevertheless, since millions of people enter America, and also Greece, why not utilize them – provided a good effort is made to identify them and as long as they are not terrorists and criminals – by giving them the opportunity to work.

Isn’t it in everyone’s interest?