April 17, 2018

RACISM IS NOT ECONOMICS:

The Definitive Report on What Immigrants Add to Australia's Economy (ADAM BAIDAWI, APRIL 17, 2018, NY Times)

The report, first published on Tuesday by Fairfax Media after journalists submitted multiple Freedom of Information requests, concluded that reducing immigration would cost the national budget billions of dollars and reduce job growth. [...]

Here are the four key takeaways from the report.

Immigrants contribute more than they consume

Immigrants help increase the country's overall gross domestic product, but they also are responsible for increasing the per capita G.D.P.

That is to say, immigrants have a net positive impact on the Australian economy because they typically contribute more in tax revenue than the amount they consume in government services.

Younger migrants mean younger workers

Seventy percent of migrants to Australia are skilled and of working age, a crucial antidote to the country's aging population.

"By slowing the aging of the population, migration allows the economy and society time to adjust," the report said.

Moreover, the document explains, higher levels of migration are also associated with less spending per person on social services like health care and education.

Immigrants do not depress wages

Mr. Abbott said early this year that limiting immigration was necessary because of the country's "stagnant wages."

The report, however, found that neither wages nor the unemployment rate was affected by migration.

"This is likely explained by the fact that migrants are generally seen as complements to the Australian-born labor force," the document said.




Posted by at April 17, 2018 4:01 AM

  

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