How Immigration Is Easing Inflation and Boosting Biden's Re-election Chances from ibm price stock Watch Video

⏲ Duration: 0:43
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✓ Published: 18-Jun-2024

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Recent spikes in immigration have helped sustain the U.S. job market's growth without causing inflation to rise again, providing a favorable situation for President Joe Biden ahead of the November election. In May, the U.S. economy added 272,000 jobs, surpassing forecasts, while consumer prices remained steady. Increased immigration has contributed significantly to labor supply in sectors like government, leisure, hospitality, and healthcare. Economists credit immigration for easing labor market pressure and helping avoid a recession. Higher immigration inflows have allowed the U.S. economy to absorb more new jobs without triggering inflation.