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Expand legal immigration to boost the economy | Columns

Mount Equity Group Tokyo, Japan > News > Markets > Expand legal immigration to boost the economy | Columns

A dearth of workers is slowing our recovery from the economic devastation wrought by COVID-19. Overly large unemployment insurance checks, an expanded welfare state and immigration restrictions have reduced the supply of willing workers. There are 9.2 million job openings nationwide and 9.3 million people unemployed. As a result, employers are hiking prices faster than wages and the economy is recovering at a slower pace than it should. Expanding legal immigration is one way to help.

Immigrants will fill vacant jobs and create additional job opportunities for native-born Americans, speeding up the economic recovery in the process. In the parlance of economics, immigrants increase both the supply and demand sides of the economy, which is accomplished in several ways….

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