March 20

Is immigration helping the economy?

While reading the article Immigration is ‘taking pressure off’ the job market and U.S. economy we gather a lot of information regarding the actual benefits immigrates have in the work force and how it benefits our economy. In 2006 15.3% of the civil labor force was made up of foreign born workers, that number  increases today at 18.6%. Mark Zandi, who is a chief economist at Moody’s Analytics, said the increase in foreign-born workers is “taking pressure off the economy.” He also states it probably is actually why the economy grew so strongly last year. Our nations GDP grew by 2.5% in 2023, beating expectations and increasing from 1.9% in 2022. Economists argue that this growth is fueling the economy and alleviating the pressure.

 

Immigration and how it affects the economy hasn’t really been a topic discussed in our international business class. However in my American Government class there have been countless times where we have discussed information and how it affects us. The thing with immigration is that there are two sides to it, illegal and legal immigrants. Whenever there are illegal immigrants within the workforce, people usually say that they are taking other peoples jobs and creating job scarcities. While legal immigrants are said to help the economy and create new jobs within the work force. It is a very pressing topic and people have their different views on it, but from what the data shows us, immigrants that come into our country work hard and complete tasks efficiently. This is a huge reason why our economy continues to grow and flourish.

United States Border Patrol and Customs and Border Protection agents escort asylum applicants down to the U.S. side of the bridge on April 1, 2020 at the Paso del Norte International Bridge in Ciudad Jua?rez in the state of Chihuahua, Mexico. - As immigration courts have been closed due to the coronavirus, COVID-19, pandemic people seeking asylum in Migrant Protection Protocols program, better known as the "Remain in Mexico" policy, are still expected to show up in the dangerous city centre before dawn to r

 

 

 

 

 

 

 

 

 

 

 

 

U.S. agents escort asylum applicants down to the U.S. side of the bridge on April 1, 2020 at the Paso del Norte International Bridge in Ciudad Juarez, Mexico.
Paul Ratje | Afp | Getty Images

I personally support the idea of immigrants coming in from other countries and contributing to the workforce. This is very beneficial and contributes to the growth of our economy. As we can see from the data immigrants in the workforce and their increased presence have increased our GDP by 2.5%. We hear from economists that the immigrants influx not only boosts productivity but also lessens challenges created by an aging native born population. Additionally their prosperity for entrepreneurship and job creation shows the positive impact immigrants really have. We see from specific data within the article that immigrants also launch businesses at substantially higher rates than the rest of the population.

 


Posted March 20, 2024 by sgcomsa in category New International Business topic/issue

2 thoughts on “Is immigration helping the economy?

  1. rasugai

    very bad, I didn’t like the structure of your blog I could not engage with your article, since you don’t relate to the pain problem I believe

    Reply
    1. rasugai

      Just playing I liked the Article, and since there’s no way I can delete my above I will cite things that I liked about it. Own opinion, I believe that your opinion somewhat correlates to mine, such as your belief that Immigrants should be allowed into the workforce, overall pretty good besides the structure.

      Reply

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