Immigration Is Fueling US Economic Growth While Politicians Rage
- Goldman boosts GDP growth forecast amid immigration surge
- HSBC says no advanced economy is benefiting like the US
Employees work at a manufacturing facility in Detroit.
Photographer: Jeff Kowalsky/BloombergThis article is for subscribers only.
While the rising number of immigrants in the US has sowed division among politicians across the country — and stoked angst among a swath of voters — there’s one place where almost everyone seems on the same, upbeat, page: Wall Street.
Last month, the nonpartisan Congressional Budget Office (CBO) calculated that immigration will generate a $7 trillion boost to gross domestic product over the next decade. The agency came to that conclusion after incorporating the recent surge in immigration.