According to experts, the arrival of migrants through our borders has a significant impact on U.S. businesses and the economy, regardless of the ongoing immigration politics.
In the latest census data, it has been revealed that net immigration to the United States reached its highest level in 22 years, with a staggering 1.14 million individuals arriving last year.
The recent wave of immigrants has not only increased the population of the United States, but has also contributed to the growth of the nation’s workforce. California is facing a significant challenge as it continues to experience a loss of residents to other states.
California’s population experienced a significant decline of over 75,000 people last year, as reported by the Brookings Institution. However, this decrease would have been even more substantial, surpassing 225,000, if it weren’t for the contribution of international migration.
Foreigners Boost American Labor Force
Last year, data from the Bureau of Labor Statistics revealed that over 60% of the country’s labor force growth was attributed to foreign-born individuals.
Gaurav Khanna, an Assistant Professor of Economics at the School of Global Policy and Strategy at UC San Diego, highlighted the significant impact of migrant innovation in the tech sector and software. He emphasized that this innovation not only benefits various downstream sectors but has also been a driving force behind U.S. productivity goals for an extended period.
According to Khanna, immigrants have the potential to address labor shortages by not only bringing fresh ideas but also contributing to the workforce. “When labor shortages occur, wage growth experiences a significant increase, which has been the trend in recent years,” stated Khanna. According to him, as more people are employed, inflation rates decrease.
“According to Khanna, the research generally indicates positive impacts of migrants on the economy as a whole. However, politically, discussing this matter has proven to be more challenging,” reported Khanna.
The topic of immigration continues to stir controversy, particularly with the influx of hundreds of thousands of migrants crossing our southern border.
Pisliakov stated that a significant number of Ukrainians are focused on securing employment. “They require opportunities, not benefits.” They are confident that they possess a strong determination to make a significant impact in the United States.
Many individuals express their unwavering commitment to employment, unknowingly contributing to the growth of the economy.
Ukrainian Immigrant Ready to Work
An immigrant from Ukraine named Ruslan Pisliakov said, “I’m like someone who doesn’t like to get benefits or other stuff.” “I am young. I am strong. I have enough power to get things done and make a difference. My goal was to get a job.
Pisliakov and his family left Ukraine soon after the Russo-Ukrainian War began, almost two years ago. He now works for a tech company in San Diego as an assurance engineer.