Por / By Robert Fuchs, Esq.
Immigrant Workers:
The Solution to Inflation
and Worker Shortages
Now and in The Future
Since the year 2000, I have been warning others that the solution to the upcoming loss of workers and rising inflation as Baby Boomers retire is to reform and rebuild the immigration system to allow immigrants to enter the US, with Temporary Resident status.
That time has come! According to the US Chamber of Commerce, “concern for inflation is soaring among American consumers and business owners alike. According to our latest Small Business Index with MetLife, 88% of small business owners are concerned about the impact of inflation. According to the latest jobs numbers from the Bureau of Labor Statistics, the US has 11.3 million jobs open, but only 5.9 million people are unemployed.
The shortage of workers creates a wage-price spiral where rising wages drive companies to raise prices, which, in turn, prompts workers to demand pay that keeps up with inflation.
The growing need for immigrant workers will only become more vital in the coming years!