Immigration is surging, with big economic consequences
Illustration of a view out of the window of an airport terminal. The silhouettes of a number of people are visible – a parent with child sitting on a chair, a student with a laptop, an elderly person with a cane, a womanholding a baby, a man holding a ba
2024-04-30 1482词 晦涩
Big movements of people have big economic consequences. According to the IMF, the foreign-born labour force in America is 9% higher than at the start of 2019. In Britain, Canada and the euro zone it is around a fifth higher. America’s immigration surge means that its economy will be 2% larger over the next decade than had been forecast. The influx of workers also helps explain the country’s strong economic growth. But immigration’s impact goes well beyond an arithmetical effect on GDP—it extends to inflation, living standards and government budgets. And recent arrivals differ from previous ones in an important way: more are low-skilled.
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