From Time Magazine:

An economic mystery is unfolding in the U.S. as employers keep adding jobs despite record-high inflation steadily cooling. Nobel-winning economist Paul Krugman says the answer is simple: immigration. As the labor force grows, jobs keep being created without fueling inflation. There are now 3.1 million more immigrant workers in the U.S. labor force compared to pre-pandemic levels.

The availability of foreign-born workers has helped the U.S. economy outperform other advanced countries and contributed to rapid growth. Immigration dipped at the start of the Trump administration before plummeting in 2020 amid COVID lockdowns, then rebounded two years later. The increase in the labor force is due to the increase of foreign workers. There are currently 3.1 million more immigrant workers in the labor force than just before the pandemic.

According to Krugman’s explanation, the addition of 3 million foreign-born workers doesn’t mean jobs taken from American-born workers. The occupations foreign-born workers tend towards, such as healthcare and the service sector, actually open up space for the economy to run hotter, leading to higher employment among U.S.-born population. Research has shown that gender pay gaps have narrowed in high-powered industries due to immigration.

The impact of immigration is also reflected in consumer demand, as immigrants tend to start businesses at higher rates than native-born Americans. This, along with the fact that immigrants are also consumers, is another force driving the economy forward by creating demand for goods and services. Despite all these benefits, the U.S. economy is still facing a shortage of about 5 million native-born workers, indicating plenty of room for further job growth.

The rebound in the labor force has contributed to the U.S. economy’s growth and helped lower inflation. The immgration policy greatly impacts ongoing job market trends but is valued in the insustry. TRACE: Topic of article is the econmic mystery of high job growth despite high inflaction credited to immigration influx. News is positively worded and presented to appeal to anyone wanting to understand economic trends. Offers numerous facts, statistics, expert opinions, and clarity. Varied in the way news reported keeps attention of reader. Image in artical provides a good description of the situation. Main theme jumped out at you when you read the piece.’]==”lemma” data-className=”token”>sc-dnqmqq kELOUp neon-article-header-newsletter-sticky.js_gradient-header Editorial★★★★★



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