US President Donald Trump won the Presidential race for having assured economic growth of the nation as well as tough immigration policies. While this might be a very populist debate in the US, the study of the Pew Research Center has revealed that it will be near to imposable to deliver simultaneously on both the fronts. This means the rate of growth of the economy will not meet the expected targets if immigration is curbed by the US administration.
The reason for this is quite apparent – falling birth rate and an aging generation of the baby boom is slowing down the growth of the US Workforce. In the scenario wherein tough immigration policies curb the stable intake of youth working population, the working age population of the US will begin to reduce. This will have a serious negative effect on the growth of US economy.
Tough immigration policies can have a very costly economic impact in the form of an aging workforce. In the modern developed economies, Japan is a classic example of the profound impact of aging work population.
With an aging population of a nation, youth are not getting employed in the Job Markets with the pace that matches replacement of workers who retire. This implies that there are lesser young taxpayers to cater to the costs of health care and retirement income for aged workers.
The arithmetic is simple – without workers who will be employed in the jobs, it is tough to create new jobs. Trump’s tough immigration policies will make it more and more difficult to fill fresh jobs in diverse US industries.
The worst part for the US is that it has been revealed by researchers in labor markets that fresh arrival of immigrants will be the most important factor that will accentuate the growth of working population for next 20 years.
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Trump’s tough immigration policies to spell doom for US job markets and economy
Posted on July 14, 2017