Reported 11 months ago
The surge in immigration is significantly impacting the labor market, with the US adding 272,000 jobs in May, higher than expected. Economist Wendy Edelberg explains that a surge in immigration, totaling about 5.5 million people in 2022 and 2023, has greatly influenced the labor supply. Although President Biden's executive order restricting immigration from the southern border may reduce the number of asylum seekers allowed to work legally, the overall effect on the US economy is expected to be minimal as it has successfully absorbed the immigrant influx without major disruptions, resulting in a strong labor market for both foreign-born and native-born workers.
Source: YAHOO