Immigration To USA Back To Pre-Covid Levels
There was no doubt that during the pandemic, immigration figures in the US fell for the first time in many decades. Migration during this time was a two-fold issue, firstly that international travel was all-but cancelled, and secondly because visa processing also slowed to a halt as staff were locked down.
Introducing new migrants to the labor force has always been a positive for the nation’s economy, and that is why the country is now welcoming the recent immigration figures, which are now back to pre-Covid levels. Let’s take a look at exactly what this means for the US and its economy.
Reasons For Moving To The USA
The two main factors which influence people’s decision to move to the United States are to be with family members who have already moved, and to seek new and better paid employment opportunities. Despite the views which people may have on the USA, this is ultimately a prosperous nation and one which offers a wealth of opportunities in terms of both career and lifestyle.
Whilst a small percentage of migrants are fleeing persecution and violence and looking for safety in the US, it is the draw of the ‘American Dream’ which brings most migrants to the nation.
Positive Impacts on the USA
One of the best examples which we can see of how migration positively supports the US economy is the percentage of the labor force which is made up of foreign-born adults, which is 17%. On top of this are the participation figures of foreign-born adults, which currently sits at 69%. Comparatively this is just 62% in domestically-born workers. It is clear that migrants are happy to come here and work hard.
Additionally it has been the mass migration to the USA over the years which continues to make this a desirable place to live. The diversity which is found in the US is unlike any nation on the planet, which has served to enrich the lifestyle here and boost the economy thanks to the bringing together of foreign-born communities.
Many migrants who hit US shores bring with them a high level of skills which they can actively contribute towards the US labor force. We have seen this for example in Silicon Valley in the last decade, which is heavily impacted by foreign-born workers. These workers are trained to a high level in other countries and then come to the US for a better career package. The same can be said in the likes of science and technology here in the United States.
Somewhat more telling is the percentage of second or third generation migrants, who have elevated themselves to positions of power. In fact if we look any the Fortune 500 alone, we can see that 11% of CEOs are foreign-born, whilst some 49% in total were either foreign born or children of immigrants.
Building Back Better
The USA may be going through some tough times right now with regards to inflation and cost of living, but this is not strong enough to perturb the millions who are looking to try and relocate to the USA every year. As these figures rise, it will continue to positively contribute to the country’s economy, diversity and quality of life.