Kansas City Fed Seyz Migrants Help Labor Shortage As Wage Growth Stays Losing

Local economic data for keyboard warriors to consider whilst pretending to understand macroeconomics and possibly enjoying the tasty cuisine from faraway lands served as discount prices.

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“The influx of immigrant workers appears to have helped alleviate the severe staffing shortages in certain industries that were pervasive during the pandemic’s volatile period,” Elior Cohen, an economist with the Federal Reserve Bank of Kansas City, wrote in the organization’s Economic Bulletin. It serves Colorado, Kansas, western Missouri, Nebraska, northern New Mexico, Oklahoma and Wyoming . . . 

As the number of available jobs decreased, wage growth began to slow. Using U.S. Labor statistics, Cohen determined wage growth slowed by approximately seven-tenths of a percentage point for every one percentage point increase in an industry’s immigrant population growth.

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KC Fed Analysis: Migrants cooled overheated labor market, slowed wage growth

(The Center Square) - The increase of migrant workers during the last two years cooled an overheated labor market and slowed wage growth across industries and states, according to an