In June, more than half of Americans told Gallup pollsters that they want to curb immigration, the highest share in more than two decades. The surge in southern border crossings after the pandemic put the issue at the top of voters’ minds.
Former President Donald Trump, the Republican nominee for the White House, has capitalized on this dynamic—accusing immigrants of taking jobs that would otherwise go to native workers, spreading false rumors about migrants in Ohio and proposing the biggest deportation program in US history.
He argues that those who warn that more immigration will ultimately mean more competition for jobs and translate into weaker pay gains for Americans are missing a key point: Those critics assume that the number of potential jobs in the economy is static when it’s a figure that changes as more people arrive.
There’s the sticking point. The benefits of growth in gross domestic product are well and good on average and reason enough for investors and white-collar professionals to feel upbeat about immigration.
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