Bessent: US Job Growth Slowed Due to Deportations

U.S. job growth has slowed down because of immigration deportations, but “in terms of Americans having jobs, we’re doing quite well,” said Treasury Secretary Scott Bessent.

“Some people are wondering, Is this a supply issue because immigration has slowed down, or is it a demand issue where businesses aren’t hiring as much?” Bessent said Wednesday during an appearance on CNBC.

“Well, I think it’s a couple of things,” the secretary replied. “I think with the securing of the border, and then maybe between deportations and voluntary deportations, we’ve seen two million people leave the workforce. And, I think in terms of Americans having jobs, we’re doing quite well.”