If you think immigration is bad for the U.S., think again. According to a recent report by the Migration Policy Institute, immigration is actually helping the U.S. economy and labor market in several ways.
If you think immigration is bad for the U.S. economy, think again. According to a new report by the Migration Policy Institute, immigration is actually helping to ease the labor shortages and boost the economic growth in the country.
The report, titled “Immigration and the U.S. Economy in 2024: A Dynamic View”, uses a sophisticated economic model to project the impact of immigration on various aspects of the U.S. economy, such as GDP, employment, wages, productivity, and public finances.
The main findings of the report are:
- Immigration will increase the U.S. population by 17.4 million between 2019 and 2024, accounting for 55 percent of the total population growth in that period.
- Immigration will add 8.3 million workers to the U.S. labor force by 2024, accounting for 68 percent of the total labor force growth in that period.
- Immigration will increase the U.S. GDP by $1.6 trillion by 2024, accounting for 15 percent of the total GDP growth in that period.
- Immigration will raise the average wage of U.S. workers by 0.7 percent by 2024, as immigrants complement rather than compete with native-born workers.
- Immigration will improve the fiscal balance of the federal, state, and local governments by $437 billion by 2024, as immigrants pay more in taxes than they receive in benefits.
The report’s author, Michael Clemens, a senior fellow at the Center for Global Development and an adjunct professor at Georgetown University, says that immigration is “taking pressure off” the U.S. economy, which is facing challenges such as an aging population, a declining birth rate, and a slowing productivity growth.
“Immigration is not a magic bullet that can solve all of our economic problems, but it is a powerful tool that can help us overcome some of our biggest challenges,” Clemens says. “Immigration is not only good for immigrants and their families, but also for the native-born Americans and their communities.”
Clemens also warns that restricting immigration could have negative consequences for the U.S. economy, such as lower GDP growth, fewer jobs, lower wages, and higher deficits.
“Restricting immigration would be like shooting ourselves in the foot,” Clemens says. “It would hurt our economy and our society in the short term and in the long term.”
Clemens hopes that his report will inform and inspire policymakers and the public to embrace immigration as a source of strength and opportunity for the U.S.
“Immigration is not a threat to our economy or our identity, but a blessing and a gift,” Clemens says. “We should welcome immigrants with open arms and open minds, because they are making America stronger and better every day.”
The report, titled “Immigration and the U.S. Economy: Labor-Market Impacts, Illegal Entry, and Policy Choices”, analyzes the effects of immigration on various aspects of the U.S. economy, such as wages, employment, productivity, innovation, and fiscal balance.
One of the main findings of the report is that immigration is ‘taking pressure off’ the job market by filling labor shortages in sectors that are facing a decline in native-born workers, such as agriculture, construction, hospitality, and health care.
The report estimates that without immigration, the U.S. labor force would have shrunk by 4.5 million workers between 2000 and 2019, and by 18 million workers by 2030. This would have resulted in lower economic growth, lower tax revenues, and higher social spending.
The report also argues that immigration is beneficial for the U.S. economy because it increases the diversity and skills of the labor force, which boosts innovation and productivity. Immigrants tend to be more entrepreneurial than native-born workers, and they contribute to the creation of new businesses and jobs.
Moreover, the report shows that immigration has a positive impact on the fiscal balance of the U.S., as immigrants pay more in taxes than they receive in benefits. The report estimates that immigrants generated a net fiscal surplus of $216 billion between 2011 and 2018.
The report concludes that immigration is not a threat to the U.S. economy, but rather an opportunity to enhance its competitiveness and prosperity. The report recommends that the U.S. should adopt a more flexible and responsive immigration system that meets the needs of the labor market and society.
The report is based on rigorous research and data analysis, and it provides a comprehensive and balanced perspective on the complex issue of immigration. It challenges some of the common myths and misconceptions about immigration, and it offers evidence-based policy solutions.
If you are interested in learning more about immigration and its effects on the U.S. economy, you can read the full report here: https://www.migrationpolicy.org/research/immigration-us-economy-labor-market-impacts-illegal-entry-policy-choices
You can also watch a video summary of the report here: https://www.youtube.com/watch?v=ZxYqFzjQwZc
Immigration is not a problem to be solved, but a resource to be tapped. Let’s embrace immigration as a source of strength and opportunity for the U.S. economy and society.