Summary
A survey of economists shows a consensus behind the view that high-skilled immigration makes the average American better off. A survey of the same economists also shows strong support behind the notion that low-skilled immigration makes the average American better off.
Overall immigration has not had much effect on native wage inequality but low-skill immigration has been linked to greater income inequality in the native population. According to labor economist Giovanni Peri, the existing literature suggests that there are no economic reasons why the American labor market could not easily absorb 100,000 Syrian refugees in a year.
Source: Wikipedia
OnAir Post: US Economic Impacts
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Economic Impacts
Source: OECD
Is migration good for the economy?
Migration is a feature of social and economic life across many countries, but the profile of migrant populations varies considerably. In part this is because of the variety of sources of migration. In much of Europe, for example, citizens enjoy extensive rights to free movement. In Australia, Canada and New Zealand, managed labour migration plays an important role. Other sources include family and humanitarian migration. Whatever its source, migration has important impacts on our societies, and these can be controversial. The economic impact of migration is no exception.
Benefit or burden – what’s the reality? To answer this question, it can be helpful to look at migration’s impact in three areas – the labour market, the public purse and economic growth.
Labour markets
- Migrants accounted for 47% of the increase in the workforce in the United States and 70% in Europe over the past ten years.
- Migrants fill important niches both in fast-growing and declining sectors of the economy.
- Like the native-born, young migrants are better educated than those nearing retirement.
- Migrants contribute significantly to labour-market flexibility, notably in Europe.
The public purse
- Migrants contribute more in taxes and social contributions than they receive in benefits.
- Labour migrants have the most positive impact on the public purse.
- Employment is the single biggest determinant of migrants’ net fiscal contribution.
Economic growth
- Migration boosts the working-age population.
- Migrants arrive with skills and contribute to human capital development of receiving countries.
- Migrants also contribute to technological progress
