aseannow.com on Nostr: The $7 trillion boost to the US economy from immigration has downsides too ========== ...
The $7 trillion boost to the US economy from immigration has downsides too
==========
The surge in immigration to the United States has been hailed as a significant driver of economic growth, with projections indicating a $7 trillion boost to the economy over the next decade. However, immigration also poses challenges, particularly in terms of strain on state and local governments' resources and potential impacts on wage growth. Immigrants contribute to federal tax revenue but also impose costs on state and local governments, leading to a net negative impact on their budgets. While immigrants play a crucial role in addressing labor shortages, they tend to work in sectors with lower wages, which may result in downward pressure on average real wages in the near term. Balancing the economic benefits with the strain on resources and potential impacts on wage growth requires careful consideration and policy adjustments.
https://aseannow.com/topic/1322874-the-7-trillion-boost-to-the-us-economy-from-immigration-has-downsides-too/
==========
The surge in immigration to the United States has been hailed as a significant driver of economic growth, with projections indicating a $7 trillion boost to the economy over the next decade. However, immigration also poses challenges, particularly in terms of strain on state and local governments' resources and potential impacts on wage growth. Immigrants contribute to federal tax revenue but also impose costs on state and local governments, leading to a net negative impact on their budgets. While immigrants play a crucial role in addressing labor shortages, they tend to work in sectors with lower wages, which may result in downward pressure on average real wages in the near term. Balancing the economic benefits with the strain on resources and potential impacts on wage growth requires careful consideration and policy adjustments.
https://aseannow.com/topic/1322874-the-7-trillion-boost-to-the-us-economy-from-immigration-has-downsides-too/