Immigration is back, in the US at least. Over the past 2 ½ years, immigration into the American labour market has increased by 4 million workers, and the working age immigrant population has finally reached its pre-pandemic trend level.
This is likely to be a central factor in strong employment growth, particularly in leisure and hospitality. It is also part of the story on increasing workforce participation, as well as being good news for the fight against inflation.
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Financial Times
Rana Foroohar is a global business columnist and an associate editor at the Financial Times, based in New York. She is also CNN’s global economic analyst.
