October 13, 2016
HILLARY'S OPEN BORDERS WILL BE THE BEST STIMULUS:
Fed Official: Immigrants 'Missing Ingredient' to Growth : A senior official at the Fed indicated Thursday that immigrants could help jump-start the U.S. economy. (Andrew Soergel, Oct. 13, 2016, US News)
Though the Census Bureau estimates America holds more than 324 million citizens and is among the most populous countries in the world, one of the biggest problems with the U.S. economy is simply a lack of workers.That's according to Philadelphia Federal Reserve Bank President Patrick Harker, who in a speech Thursday bemoaned the country's lackluster labor force participation - which measures the percentage of working-age Americans who are either employed or actively looking for work.Americans' participation in the workforce has fallen demonstrably since the late 1990s. And with more people sitting on the sidelines, productivity metrics - and, ultimately, economic growth - suffer. Harker said in his speech before the World Affairs Council of Philadelphia that skilled workers, in particular, could serve as the "missing ingredient" that would turn sluggish economic growth around.But how does the country go about drumming up more capable employees? One of the most promising options, according to Harker, would be an uptick in high-skill immigration."The bottom line is that a larger and more highly skilled labor force fuels economic growth, something we will need to meet the demands of demography," Harker said, suggesting that immigration "is a source of immense potential for economic growth."
The one problem that's coming is we have a serious shortage of housing stock for the newly legalized to buy. We'll need a lot more immigrants to build it.
Posted by Orrin Judd at October 13, 2016 8:16 PM
