How immigration is driving U.S. job growth (Neil Irwin, 3/12/24, Axios)
New analysis from the Brookings Institution puts some hard numbers on the relationship between the rise in immigration and the labor market — finding an influx of workers is allowing the U.S. to sustain higher rates of payroll gains than forecasters thought it could before the pandemic.
“Faster population and labor force growth has meant that employment could grow more quickly than previously believed without adding to inflationary pressures,” economists Wendy Edelberg and Tara Watson write for the Hamilton Project.
By the numbers: Before the pandemic, forecasters estimated sustainable monthly employment growth would be between 60,000 and 130,000 in 2023 — a key reason why last year’s monthly average of 255,000 looked way too hot.But Edelberg and Watson say that, accounting for higher immigration, the economy could have accommodated job growth between 160,000 and 230,000 in 2023 “without adding to pressure in the labor market that pushed up wages and price inflation.”
MAGA’s adoption of the Left’s economics is not coincidental. They want to tank the economy.