(NEWS) How immigration is helping the economy defy expectations

Policymakers are increasingly pointing to an immigration influx and a bolstered U.S. labor force as a main reason the economy did so well in 2023.

The U.S. economy defied expectations last year by avoiding a widely predicted recession, with real gross domestic product (GDP) growing by 2.5 percent, unemployment staying below 4 percent, stock markets and corporate profits surging to record highs, and inflation falling off a cliff.

While a boost in the money supply and trillions in fiscal stimulus can take much of the credit for avoiding a downturn, a growing number of experts say immigration also helped stave off recession by boosting the size of the labor force in ways that weren’t originally understood…

Tobias Burns, The Hill, April 10, 2024
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