HomeFinance NewsPersonal financeMigration Miracle: Immigration Fuels Economic Boom, Beats Labor Shortage

Migration Miracle: Immigration Fuels Economic Boom, Beats Labor Shortage

  • ORIGINAL NEWS

Immigration is ‘taking pressure off’ the job market and U.S. economy, expert says


  • SUMMARY

Immigration plays a significant role in the US workforce.

Since 2006, the number of foreign-born workers has risen to 18.6% of the civilian labor force.

This influx of foreign workers benefits the economy.

By increasing the labor pool, they help fill essential jobs, ease worker shortages, and reduce inflationary pressures.

The additional workers also generate higher tax revenues, which support social programs like Social Security.

Moreover, immigrants often have higher labor force participation rates and are more likely to start businesses, creating job opportunities for US-born workers.

Despite concerns about competition for jobs, evidence suggests that the overall impact of immigration on native-born wages is minimal or even positive.

Without immigration, the US labor force would shrink due to a declining birth rate and an aging workforce, making it harder to finance programs like Social Security.

Therefore, while immigration brings complexities, economists generally view it as a net benefit to the US economy.


  • NEWS SENTIMENT CHECK
  • Overall sentiment: positive
  • Positive



    “Without foreign-born labor, the U.S. labor pool would shrink because of lower birth rates and an aging workforce, making it harder to finance programs such as Social Security.”

    “The share of immigrants in the U.S. labor force has steadily increased for more than a decade, and that growth is poised to continue — a trend economists say benefits the American workforce and economy.”

    Negative



    “In simple terms, more workers generate more goods and services.”

    “In 2021, 4.6% of U.S. workers were unauthorized, a share that’s stayed in a “narrow range” since 2005, according to the Pew Research Center.”

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