A sharp decrease in the number of employees can lead to a significant increase in inflation and a fall in GDP by 8%.
The immigration policy of US President Donald Trump could lead to a drop in the country’s GDP by 8%. The large-scale deportation of migrants will hurt a number of industries depending on the work of immigrants, such as the hotel business, agriculture, the food industry and construction. On Sunday, January 26, Bloomberg wrote with reference to experts.
The publication notes that the loss of millions of workers in key sectors may be subject to persistent errors in labor processes. In states like California, Texas and Florida, more than 45% of builders are immigrants. The lack of labor in these regions can lead to an increase in labor costs of 8% and five-month labor delays.
At the same time, investors from Wall Street do not yet believe that Trump is fully implementing his plans.
At the same time, analysts warn that a sharp decrease in the number of employees can lead to a significant increase in inflation, a slowdown in economic growth and a deterioration in the labor market situation. The fall in GDP of 8% was one of the biggest economic shocks in recent US history.
Remember, on the eve of his inauguration, Trump promised a “grand deportation” in the history of the country.
In the first days of the new administration, hundreds of migrants were detained and deported.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.