Immigration Economics Part II: Smaller is Worse

Over a year into the administration's anti-immigration agenda, we’re seeing the economic fallout. For the first time in at least 50 years, estimates are that we lost immigrants on net; far fewer than usual arrived and a somewhat higher than usual number left. But if anyone benefited from that shift, it wasn’t U.S.-born workers. Even against the backdrop of our weak labor market, foreign-born workers now have slightly lower unemployment rates and higher labor market participation than they did two years ago. Their wages have also ticked up. Meanwhile, reduced population growth has thrown the country’s economic benchmarks into chaos, making it harder to interpret job creation, GDP, and the health of the labor market. Chapters: 00:00:50 Announcements: Send us your anticipated Thanksgiving dinner fights 00:01:45 Retcon: Consumer sentiment update, auto-enrollment for Trump Accounts  00:07:43 Terms & Conditions: Plutocratic 00:08:42 Big Pilcrow: Immigration and the Economy 00:36:38 Executive Orders: “The media isn’t covering this” comments; best-of award for bookstore tote bags. 00:38:31 Spiritual Sponsors: Sonoratown and an IPA on tap Donate to Optimist Economy: https://optimisteconomy.com Video-curious? Watch the Optimist Economy YouTube channel⁠⁠. We’re also on Instagram at ⁠⁠@optimist_economy or TikTok at ⁠⁠@optimist_economy.  Chat with other Optimists on Substack. Find utility with our merch: https://merch.ambientinks.com/collections/optimisteconomy Got economic questions, concerns, or executive orders?  Send them to [email protected]