Journal Article

Rising Immigration Has Helped Cool an Overheated Labor Market

Abstract: The United States has experienced a substantial influx of immigrants over the past two years. In 2023, net international migration surpassed its pre-pandemic peak. This flow of immigrant workers has acted as a powerful catalyst in cooling overheated labor markets and tempering wage growth across industries and states.

Keywords: immigration; labor markets; wage growth;

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Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Economic Bulletin

Publication Date: 2024-05-22

Pages: 4