IHS Economics, Hispanic Immigration and US Economic Growth
IHS Economics, Hispanic Immigration and US Economic Growth has some interesting findings:
The US economy is nearing a period when labor force growth will slow sharply as an ever larger proportion of the Baby Boomer generation retires. During this time, Hispanic employment will continue to show strong growth, even under conservative assumptions about Hispanic immigration. This report presents the results of projections of future US labor force and employment growth, broken out to identify di ffering trends for the Hispanic and non -Hispanic populations.
Principal findings of our analysis are
• Labor force growth is expected to accelerate over the next three years as the pace of economic growth picks up and more people are drawn back into the labor force, but thereafter labor force growth will begin to slow sharply.
• The Hispanic population will play an increasingly significant role in US employment growth because Hispanics are a younger and faster growing segment.
• Over the last years of the forecast period, Hispanics will account for over three -fourths of the increase in US employment.
Higher levels of immigration are conducive to stronger US economic growth. There are credible scenarios for greater Hispanic immigration than assumed in our baseline forecast, especially if the immigration policy gridlock in Washington is broken.
KJ